Global banks lead roughly $3.8B in Asian GPU financing deals

International banks are moving into GPU financing in Asia, according to a Wall Street Journal-affiliated report republished by Wallstreetcn on October 6, 2026. Citigroup, JPMorgan, Barclays, Deutsche Bank, Santander and Sumitomo Mitsui Banking Corporation have already taken key roles in roughly $3.8 billion of GPU loans across three AI infrastructure companies: GMI Cloud, Zankore and PaleBlueDot AI. According to people familiar with the matter, all of those banks are now evaluating GPU-linked lending, and local Asian banks are following their lead. Until now, such deals in Asia were mainly handled by private credit funds with a higher appetite for risk, while GPU financing in the United States had already grown quickly.

Some of the arrangements are already in place. Citigroup is serving as sole debt advisor on Zankore's $3.1 billion borrowing in Indonesia, and JPMorgan is acting as placement agent for a $255 million credit facility for PaleBlueDot AI. Separately, people familiar with the matter said last month that GMI Cloud is in talks with banks and private lenders about a new $300 million loan to buy chips for a data center in Thailand. About six bankers and financial advisors in Asia said they are negotiating or are aware of additional GPU-related financing. Hundreds of data centers are under construction across Asia, and their developers are simultaneously raising money to buy chips.

PwC estimates that data center spending in Asia could reach $8.2 trillion by 2050, with the vast majority going to hardware such as GPUs and servers. The report does not specify the terms of the loans, when they are expected to close, or how far along each financing is.