According to The Wall Street Journal, the U.S. Department of Defense is negotiating a $5 billion (approximately 6.7 trillion Korean won) loan with AI cloud platform startup Fluidstack, with funding coming from the Department of Defense’s Office of Strategic Capital (OSC). The funds are primarily intended to strengthen the U.S. domestic supply chain and manufacturing capabilities for critical components of data centers. If finalized, this would be the OSC’s largest single loan to date. Founded in 2017, Fluidstack relocated its headquarters to New York, USA, in December last year, and all 700 of its employees currently work in the United States. The company has already signed multi-year data center lease agreements in states including New York, Indiana, Louisiana, and Texas. Loan terms have not yet been finalized.
U.S. Department of Defense to Offer $50 Billion Loan to AI Startup Fluidstack
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Summary
AI and crypto news broke on Tuesday as the U.S. Department of Defense is in talks with Fluidstack for a $50 billion loan. The funding will strengthen domestic supply chains for data center components. Fluidstack, founded in 2017 and headquartered in New York, has 700 employees in the U.S. and has signed multi-year data center leases in multiple states. Inflation data remains a key factor in large-scale capital movements.
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