Pentagon May Provide a $5 Billion Loan to an Artificial Intelligence Startup
The U.S. Department of Defense (Pentagon) is discussing providing approximately $5 billion in financing to artificial intelligence startup Fluidstack.
Startup.az reports that The Wall Street Journal cited sources as saying the discussions are underway.
According to the report, the loan could be aimed at strengthening U.S. supply chains and boosting the production of components for data centers.
The funding could be provided by the Pentagon’s Office of Strategic Capital (OSC), which finances projects considered strategically important to U.S. national security. If approved, the deal would represent the largest financing in the office’s history.
The talks between the parties have reportedly been ongoing for several months. However, the final terms of the deal have not yet been agreed upon.
Fluidstack was founded in London in 2017. The company later shifted its focus to developing artificial intelligence infrastructure in the United States and moved its headquarters to New York.
The startup has also signed long-term lease ag