Solstice, an onchain settlement and yield protocol, and TensorX, an EU-based AI infrastructure company, have partnered to establish a financing facility with up to $1 billion in capacity to fund AI hardware purchases and data center expansion across Europe, according to a Thursday statement.
The partnership targets the rising demand for locally hosted AI services. The companies will work together to fund the purchase of AI hardware and the development of data center capacity.
The financing model combines TensorX’s AI infrastructure operations with Solstice’s onchain lending capabilities. TensorX operates a fleet of NVIDIA GPUs and provides enterprise AI services through European data centers, while Solstice will structure and manage the financing required to support future expansion.
“Europe wants AI that can run on its own terms, on its own soil, without handing its data to someone else’s cloud on the world stage,” Tim Grant, Executive Chairman of TensorX, stated. “Meeting that accelerating demand takes hardware, and a lot of it. The billion dollars going into GPUs and data-center capacity is the first step, and we expect to keep buying as demand grows. Solstice gives us a financing partner that can keep pace with this incredibly fast moving market.”
