Nscale Lines Up $1.4 Billion Chip Loan From Pimco, Blue Owl

Data center startup Nscale has lined up a $1.4 billion financing from lenders including Pacific Investment Management Co. and Blue Owl Capital Inc. to fund chip purchases that will be leased to customers, according to a statement.

The delayed-draw term loan underscores how private credit firms are leaning into asset-backed lending tied to the artificial intelligence buildout. Luminarx Capital Management also participated in the deal, Nscale said.