Zankore, an AI infrastructure venture backed by Indosat Ooredoo Hutchison (IOH) and Ooredoo Group, has secured a senior term loan facility of up to $3.1 billion to finance its AI infrastructure buildout in Southeast Asia.
The facility, provided by a consortium of regional and international banks, will fund the acquisition and deployment of NVIDIA GPU infrastructure as Zankore scales its AI computing capacity across the region.
Citi acted as exclusive debt adviser, while Citi, ING, Natixis CIB, Qatar National Bank, and United Overseas Bank acted as senior mandated lead arrangers, underwriters, and bookrunners.
“AI is creating a defining opportunity for Indonesia and Southeast Asia [..] With NVIDIA’s support, Zankore is building the advanced AI computing foundation needed to help turn that opportunity into reality,” said Vikram Sinha, director and chairman of Zankore, who also sits as IOH’s president director and CEO.
The financing comes about a month after Indonesian telecom operator Indosat Ooredoo Hutchison teamed up with Ooredoo Group, NVIDIA, and Nokia to launch Zankore as an AI infrastructure venture targeting Southeast Asia.
Zankore plans to develop up to 1 GW of NVIDIA DSX AI Factory capacity, with the first phase expected to provide around 200 MW of capacity in the first half of 2027. Financial terms of the venture were not disclosed at launch.
Under the partnership, Ooredoo Group is the lead investor and provides long-term capital, while Indosat contributes its local telecom infrastructure and operating capabilities. NVIDIA supplies computing technology, AI software, and access to its ecosystem, while Nokia provides networking infrastructure.
The latest debt facility provides financing for the infrastructure buildout, with Zankore saying the capital will support the deployment of large-scale NVIDIA GPU computing and cloud-based AI services.
Zankore is initially building 100 MW of NVIDIA AI infrastructure, with the broader platform targeting up to 1 GW over time. The company said the first 200 MW of capacity is expected to come online in the first half of 2027.
The financing also comes as Indosat seeks to develop new businesses around digital infrastructure beyond its traditional connectivity operations. At Zankore’s launch, the company said the venture would help address growing demand for computing capacity from enterprises, cloud providers and other customers across the region.
