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Argentum AI in talks for $5 billion chip financing with private credit firm
The debt would fund chips for Argentum’s Poland data center leased to customers without investment-grade ratings, a source told Reuters.
Argentum AI, a Chicago-based AI cloud startup backed by Super Micro Computer, is in talks to secure a $5 billion financing deal for AI chips with a major private credit firm, Reuters reported, citing two people familiar with the matter.
One person said the money would pay for additional chips for the data center Argentum secured in Poland with DL Invest Group, and that the debt is meant for chips leased to customers without investment-grade ratings. Argentum has more than $12 billion in contracted revenue, the person said. The lender was not named.
Neocloud financing tightens
Financing for neoclouds, which rent AI computing power to other companies, has tightened, Reuters said. Elon Musk wrote on X on Sunday that debt markets have almost entirely shut off for companies without substantial revenue outside AI data centers. Rival Nebius last week secured a $3.5 billion facility from Citi.
Argentum, founded in 2025 and led by Chief Executive Officer Andrew Sobko, signed a roughly $2.5 billion deal in May with cloud gaming firm Boosteroid and DL Invest for a 300-megawatt data center.