GMI Cloud Draws More Than Double Its Target on Asia GPU-Backed Loan

GMI Cloud, an Nvidia Corp. partner, has secured bank commitments of about NT$30 billion ($947 million) for a loan backed by sales of computing power from advanced chips—more than double the NT$13.9 billion it was seeking—in one of the first such financings in Asia. Around a dozen banks offered to lend to the U.S.-based data-center operator, according to people familiar with the matter. The five-year term loan is one tranche of a larger package supported by customer contracts to buy compute capacity.