The joint venture targets up to $300M in GPU-backed financings for the initial deployment, with a path to upsize to $1BN upon achievement of performance milestones.
NEW YORK, June 30, 2026 /PRNewswire/ — USD.AI, the financing platform for AI compute assets, and BSQ Capital Partners, a Singapore-headquartered alternative asset manager focused on ‘next-generation’ digital infrastructure, today announced the formation of a joint venture to provide senior secured, GPU-backed financing to operators of AI compute infrastructure across the Asia-Pacific region.
The joint venture targets up to $300 million in GPU-backed financings in its initial deployment, with a path to upsize as origination scales across the region. It will provide senior secured term loans collateralized by first-priority security over GPUs and their contractual cashflows, expanding USD.AI’s presence in Asia-Pacific, one of the world’s fastest-growing AI compute markets.
Under the partnership, BSQ Capital Partners will act as investment manager, originating and managing transactions across key Asia-Pacific markets including but not limited to Australia, Japan, South Korea, Southeast Asia, and India. USD.AI will provide financing capital alongside its programmatic underwriting platform and technology, which converts high-performance compute hardware into financeable collateral and enables faster and simpler execution as compared to traditional lenders.
“Asia-Pacific’s AI compute buildout is moving faster than traditional financiers can respond. Operators leading this wave require financing partners with domain expertise and the underwriting capability to structure, price, and close with conviction,” said David Woo, Co-Founder and Partner of BSQ Capital Partners. “This joint venture pairs BSQ’s regional origination and underwriting capabilities with USD.AI’s purpose-built financing platform, giving high-quality operators across the region access to institutional capital at the speed their businesses require.“
“GPUs are among the most productive assets of this decade, and they should be financeable as such,” said Conor Moore, COO and Co-Founder of Permian Labs, developer of USD.AI. “BSQ is the ideal partner to extend our financing model across Asia-Pacific: a regulated, specialist manager with deep local relationships and a shared conviction in the AI infrastructure build-out. Together we can channel global capital to the operators building the region’s compute backbone.“
The Asia-Pacific region has emerged as one of the largest sources of new AI compute demand, driven by sovereign AI initiatives, cloud expansion and a growing base of independent compute operators. Many of these operators hold high-value GPU fleets but face limited financing options from banks that lack the tooling to underwrite compute hardware as collateral and move at the speed necessary to meet the scaling demand. The joint venture is designed to close that gap with institutional capital and specialized underwriting purpose-built for the asset class.
About USD.AI
USD.AI provides AI infrastructure operators with strategic, non-dilutive financing facilities essential for their scale requirements. The protocol delivers non-recourse loans secured exclusively by the underlying GPU infrastructure, isolating risk from the corporate balance sheet. USD.AI’s financing is asset-backed, transparent, and settled on-chain, providing capital providers with direct exposure to income-producing compute assets.
About BSQ Capital Partners
Founded in 2022 and headquartered in Singapore, BSQ Capital Partners is a global alternative asset manager focused providing flexible capital solutions to ‘next-generation’ infrastructure to meet the scaling needs of artificial intelligence (AI), digital assets, and other transformative technologies. BSQ specializes in asset-backed financings, credit and special situations for sectors where complexity and specialized underwriting limit access to traditional capital. The BSQ team comes from Goldman Sachs, Lone Star Funds, Fortress Investment Group, and BPEA. Learn more at bsqcapital.com.
SOURCE USD.AI