NEWS
Core42 secures US $ 550 million HSBC financing to expand AI infrastructure across US and Europe
Core42, a G42 company focused on sovereign cloud and AI infrastructure, has secured US $ 550 million in structured trade finance facilities from HSBC to accelerate AI cloud and compute deployments across the US and Europe.
The UAE-headquartered company completed two non-equity facilities worth US $ 240 million and US $ 310 million in February and May 2026. The funding is designed to support the capital demands and deployment cycles associated with industrial-scale AI infrastructure.
Core42 said the facilities will strengthen its ability to expand large-scale compute capacity tied to long-term enterprise and government demand while maintaining disciplined capital allocation. The company operates across the UAE, US and Europe and is expanding its sovereign AI infrastructure footprint through partnerships with hyperscalers and regional governments.
Neha Gupta, Chief Financial Officer, Core42, said the financing reflects growing institutional confidence in AI infrastructure as a long-term industrial asset class.
“ The provision of the trade facilities by HSBC will strengthen our ability to deploy capacity at speed across the US and Europe while maintaining financial discipline and a long-term growth framework,” Gupta said.
Core42’ s European expansion is anchored by its Dublin headquarters, with deployments underway in Italy and France.
Shaikha AlMarri, Head of Banking UAE, HSBC, said the financing structure would support current deployments while creating a framework for future funding initiatives.
Core42 said demand for AI infrastructure is increasing as enterprises move from projects to mission-critical deployments requiring governance, cloud environments and compute capacity. The company expects the facilities to improve deployment speed and support expansion opportunities.
Qilimanjaro inaugurates analog quantum computer at Barcelona Supercomputing Center
Qilimanjaro Quantum Tech has inaugurated a new analog quantum computer at the Barcelona Supercomputing Center( BSC-CNS), home to MareNostrum 5, one of Europe’ s most powerful supercomputers.
The deployment expands BSC’ s quantum infrastructure, complementing the digital quantum system previously installed by Qilimanjaro and GMV in 2025 as part of Spain’ s national quantum programme, Quantum Spain.
Together, these technologies form part of MareNostrum- Ona, BSC’ s integrated quantum infrastructure, combining analog quantum computing, digital quantum computing and classical supercomputing within a unified hybrid environment.
The inauguration marks the first milestone of the EuroQCS- Spain contract, an € 8.5 million project co-financed by the EuroHPC Joint Undertaking and the Spanish State Secretariat for Digitization and Artificial Intelligence.
Under the contract, Qilimanjaro, as a full-stack quantum provider, and Do IT Now, as HPC-QC integrator, are delivering three generations of Adiabatic Quantum Processing Units( AQPUs), beginning with a 10 analog qubit system.
“ With this installation, BSC becomes one of the few places in the world where analog quantum computing, digital quantum computing, and classical supercomputing operate together as a single resource, and we believe that is exactly the environment the field needs at this stage to move from promise to practical contribution,” said Dr. Marta P. Estarellas, CEO, Qilimanjaro Quantum Tech.
The analog system is designed for optimization challenges, quantum simulation and quantum-enhanced AI workloads. It complements BSC’ s existing digital quantum resources while reducing dependence on full error correction. Accessible through EuroHPC and the Spanish Supercomputing Network, the platform will support researchers and industry across Europe. •
12
INTELLIGENT CIO EUROPE www. intelligentcio. com