QumulusAI secures $500 million credit facility to expand AI computing infrastructure

ChainCatcher news, according to CoinDesk, the company QumulusAI, which builds GPU (graphics processing unit)-based cloud infrastructure for artificial intelligence, has secured a $500 million credit line to support its expanding GPU fleet.

The financing was arranged by Permian Labs and will be distributed through the blockchain-based credit protocol USD.AI. The company stated that this non-recourse credit arrangement will allow QumulusAI to borrow stablecoins against up to 70% of the value of its approved deployed GPUs. Compared to traditional credit avenues such as bank loans or venture debt, this method enables the company to access funds more quickly.