GMI Cloud Raises $668 Million to Expand AI GPU Infrastructure Across the US and Asia-Pacific

GMI Cloud, an AI infrastructure company headquartered in Mountain View, California, announced on September 30 that it has raised $668 million in combined equity and debt financing to expand GPU computing capacity across the United States and Asia-Pacific. The round comprises a $223 million Series B equity raise and a $445 million credit facility led by CTBC.

The Series B was led by ARCHIV, a San Francisco-based firm focused on AI and robotics, with participation from NVIDIA. Asia-Pacific investors included DSC Investment, Trend Micro, KB Investment, and Kyobo Life Insurance, reflecting the company's cross-Pacific operational footprint. GMI Cloud is one of seven cloud vendors built entirely on NVIDIA's full stack of hardware and software.

The company said its contracted annual recurring revenue has surpassed $600 million, reaching more than nine times its level at the end of 2025. The growth comes as AI model developers, application builders, and enterprises compete for access to advanced computing capacity, making data centre space and power as strategically important as the GPU chips themselves.

The funding illustrates a continuing theme in AI infrastructure: the buildout layer — physical facilities, power delivery, and GPU-dense server clusters — is absorbing enormous capital. While public attention focuses on model capabilities, the competition for the physical infrastructure that makes those models possible is intensifying. GMI Cloud's rapid revenue growth and large raise suggest that mid-tier cloud providers serving the overflow demand from hyperscalers occupy a profitable and expanding niche.