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المشهد العربي
Banking group grants 22B loan for Crocs AI
A group of ten banks, including Goldman Sachs, Sumitomo Mitsui, and Barclays, has arranged a $22 billion loan to finance the "Crocs AI" project, which aims to purchase custom chips for the artificial intelligence industry. This financing is based on the value of the chips and the project's customer contracts. The goal is to support cloud computing development by meeting the demand for advanced chips, with a subsequent plan to convert this debt into long-term financing through the bond market, along with the provision of sustainable credit facilities.
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