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The deal, part of a larger $500M facility, utilizes non-recourse loans to keep debt off the AI company's balance sheet as it prepares to go public.
February 18, 2026
Companies mentioned:
QumulusAI, an AI infrastructure company, has secured a $4.3 million loan from USDAI, marking the first drawdown from a larger $500 million guidance facility. The financing is backed by high-value NVIDIA hardware, specifically 18 RTX Pro 6000s and 9 B300s.
This development is particularly significant as QumulusAI has filed to go public on the Nasdaq exchange, listing USDAI as its primary credit facility. According to CEO Michael Maniscalco, this financing model is critical for the company's growth and IPO preparations. The non-recourse nature of the loans means they do not appear as debt on QumulusAI's balance sheet, allowing the company to acquire necessary computing hardware without negatively impacting its financials ahead of the public offering.
The loan was issued at a 70% Loan-to-Value (LTV) ratio with a 12% Annual Percentage Rate (APR). The firms have also lined up an additional $14 million for a cluster financing initiative scheduled for late Q1 2026, signaling a long-term strategic partnership.
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