Argentum AI in talks for $5 billion chip financing deal

Argentum AI wants to borrow $5 billion to buy more chips. The cloud computing startup is in talks with a major private credit firm for the deal, Reuters reported, citing two people familiar with the matter. For a company founded in 2025, that is a big ask. It is also a revealing one, because of who the chips are reportedly meant to serve. What Argentum is reportedly negotiating According to one of the people Reuters spoke with, the money would fund additional chips for the data center Argentum secured in Poland with DL Invest Group. The same person said the debt is intended for chips leased to customers that lack investment-grade ratings. Argentum’s counterweight to that risk is its order book. The company has secured more than $12 billion in contracted revenue, the person said. The talks are ongoing, and no deal has been confirmed. The private credit firm involved was not named. The Poland project and the neocloud playbook Argentum is a Chicago-based AI cloud startup, the type of company the industry now calls a neocloud. Think of it as a landlord for computing power: it buys expensive GPUs, racks them in data centers, and leases the capacity to companies training and running AI m...