GMI Cloud raises $223M Series B plus $445M in debt for GPU capacity

Taiwanese bank CTBC led the credit facility, while Archiv, a new San Francisco firm focused on AI and robotics, led the equity round. Other equity investors include DSC Investment, Trend Micro, KB Investment, Kyobo Life and KT Corporation. No valuation, interest rate, term or security for the facility was disclosed. Debt makes up about two-thirds of the $668M total. The funds will expand GPU capacity in the US, Taiwan and Asia-Pacific. The company's claim of more than $600M in annual recurring revenue is contracted, and live revenue is given only as a multiple. That live figure is up more than 4.5x. Its inference platform handles about 4 trillion tokens a week for customers such as Fireworks, Nous Research and OpenRouter. GMI Cloud is one of only seven cloud providers that build facilities entirely to Nvidia's specifications. For teams that rent GPU capacity, a supplier's balance sheet is now part of vendor risk. A provider with a large bank facility must turn contracted deals into live, paying workloads fast enough to cover repayments. The added US and Asia-Pacific capacity may ease supply for inference-heavy startups. Buyers signing long commitments should ask how much of a provider's backlog is already running.