Silver Point Capital and Victory Park Capital join a four-year facility through USD.AI‘s GPU Loan Exchange (GLX) to finance GPU capacity in Finland.
NEW YORK, Oct. 29, 2026 — USD.AI, the platform financing the Compute Middle Market, today announced that it has led and closed a $106 million senior secured term loan facility for NexGen Cloud, a leader in scalable, sustainable AI Cloud solutions across Europe. This transaction marks another milestone for USD.AI as it continues to serve the Compute Middle Market—GPU operators and AI infrastructure businesses below the hyperscaler tier—and is NexGen Cloud’s second financing with USD.AI. It follows the $34 million facility announced in June 2026 for NexGen Cloud’s NVIDIA B200 deployment in Sweden. Together the two facilities bring USD.AI’s financing for NexGen Cloud to $140 million across two countries.
Silver Point Capital and Victory Park Capital participated as lenders alongside USD.AI. The four-year facility finances 216 NVIDIA HGX B300 servers, 1,728 GPUs in total, at a Tier III data center in Finland. The escrow funding date is aligned with shipment of the servers, which is expected in Q4 2026. The capacity is fully contracted under a take-or-pay agreement with a leading AI inference platform, and the loan amortizes over the same term.
USD.AI arranged the facility and served as administrative agent through its newly launched GPU Loan Exchange (GLX) which connects standardized, serviced GPU-backed loans with institutional capital.
GLX launched on October 1, 2026 with a $98 million season-and-sell transaction for Duos Edge AI. USD.AI has originated more than $500 million of GPU financing this year, and with the NexGen Cloud facility, more than $200 million of that has now gone through GLX.
“NexGen Cloud came back to us for a facility three times the size of the first, and this time we led it alongside two established credit investors,” said Conor Moore, Chief Operating Officer and Co-Founder of USD.AI. “That is what GLX is for: bringing institutional capital into the largely underserved Compute Middle Market, and putting it behind established, fast-growing neoclouds like NexGen Cloud.”
“The compute needs of our customers are growing significantly and at a rapid pace. Having access to reliable financing solutions to facilitate that demand is essential to our success,” said Chris Starkey, Chief Executive Officer of NexGen Cloud. “Sourcing capital through USD.AI’s GLX gives us the speed and certainty to convert customer demand into deployed AI capacity across Europe. The USD.AI team’s approach to many of the finance challenges we sometimes face is what separates them from others. We look forward to continuing our business growth together.”
About USD.AI
USD.AI operates the GPU Loan Exchange (GLX), the marketplace connecting institutional capital with AI infrastructure operators across the Compute Middle Market. It originates, structures and agents senior secured loans backed by GPUs and the contracted cashflows they generate, and places them with institutional credit investors through GLX. Borrowers get speed and certainty of execution. Lenders get secured exposure to income-producing compute, underwritten with institutional rigor. For more information, visit https://usd.ai.
About NexGen Cloud
NexGen Cloud is the foremost provider of sovereign-by-design, full-stack AI cloud environments for the global market. Purpose-built AI infrastructure for the demands of modern AI workloads, NexGen Cloud’s solutions include Hyperstack Secure Private Cloud for single-tenant enterprise deployments, and Hyperstack On-Demand, a full stack AI cloud platform offering GPUaaS. As an NVIDIA Cloud Partner, the company hosts its managed infrastructure in data centres across Europe and North America. For more information, visit www.nexgencloud.com.
About Silver Point Capital
Silver Point Capital is a leading global credit investing firm founded in 2002. With a dedicated team of over 400 employees, Silver Point Capital oversees over $48 billion in investable assets across a comprehensive credit platform that includes public and private investment strategies. Silver Point Capital’s Direct Lending business works in close partnership with both private equity-backed and sponsor-less borrowers, with a flexible mandate designed to allow clients to execute on M&A, refinancings and growth capital, among a range of transaction types. Silver Point Capital’s Direct Lending business manages over $18 billion in investable assets. For more information, please visit www.silverpointcapital.com.
About Victory Park Capital Advisors, LLC
Victory Park Capital Advisors, LLC (“VPC” or the “Firm”) is a global alternative asset manager that specializes in private credit and asset-backed finance. The Firm also offers structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. Founded in 2007 and headquartered in Chicago, VPC became a majority-owned affiliate of Janus Henderson Group in 2024, gaining access to the firm’s 2,000+ employees across offices in 27 cities worldwide. Victory Park Capital is a Registered Investment Advisor with the SEC. Registration with the SEC does not imply a certain level of skill or training. Triumph Capital Markets (TCM) is a U.S. registered broker-dealer and operates solely within the United States. It is not registered to conduct securities business in any other jurisdiction. For more information, please visit www.victoryparkcapital.com.
SOURCE USD.AI
