Highlights

  • Digi Power X obtained a USD 200 million debt commitment to complete its Alabama AI data centre.
  • The company expects financing to close within 90 days, subject to documentation, diligence and other closing conditions.
  • Management targets December 2026 for Phase 1 and March 2027 for Phase 2 of the Alabama project.
  • The company reported approximately USD 135 million in cash after spending about USD 153 million during the year.

Financing for a 40 MW Alabama AI data centre moved forward when Digi Power X (NASDAQ:DGXX) announced a USD 200 million debt commitment on 13 October 2026. The commitment is intended to fund completion and related costs at the Columbiana campus. It still requires closing, leaving financing conditions and the construction schedule central to the company's next steps.

Commitment Precedes a Closed Loan

A major lending institution provided the commitment, with Goldman Sachs syndicating the financing. Digi Power X expects closing within 90 days, subject to definitive documentation, satisfaction of conditions and completion of lender diligence.

The proposed structure places borrowing at the project special purpose vehicle level. An unsecured company guarantee would remain through project completion and for certain limited additional matters. The source does not disclose an interest rate or maturity, so the final borrowing cost and repayment schedule remain unspecified.

The commitment can be terminated or modified under the risks described in the announcement. It therefore cannot be treated as cash already received or as an unconditional funding agreement.

Construction Dates Remain Targets

Management expects Phase 1 completion by December 2026 and Phase 2 by March 2027. The company identifies construction delays, cost overruns, supply-chain problems and permitting as risks to delivery.

Chief executive Michel Amar said the financing was intended to support completion while limiting shareholder dilution. The company also described preservation of corporate liquidity and pursuit of additional customer contracts as objectives. These are the purposes of the planned financing; they do not establish that the campus has been completed or that further contracts have been signed.

Spending and Early Compute Revenue

The financing announcement reported approximately USD 135 million in cash and about USD 153 million of year-to-date capital expenditure. Digi Power X said it issued no shares through its at-the-market equity programme during the third quarter of 2026.

The supplied document reports second-quarter revenue of approximately USD 6.6 million and a net loss of roughly USD 14.4 million. It also records around USD 1.1 million of initial AI compute revenue from approximately five weeks of GPU bare-metal operations.

Management cited about USD 1.1 billion of contracted AI data-centre revenue and potential total contract value of approximately USD 2.5 billion. Those amounts describe contractual and potential business over time, rather than revenue already recognised in the reported quarter.

Infrastructure Expansion Continues

The first ARMS 200 modular data centre has operated since May 2026, supporting GPU bare-metal services. A partnership with Super Micro Computer supports access to NVIDIA Blackwell GPUs.

Digi Power X plans to expand infrastructure through its NeoCloudz platform using ARMS systems supplied by US Data Center. Its wider plans include converting New York State sites, while the company has acquired an office and laboratory facility in Silicon Valley.

The Alabama financing close, construction milestones and conversion of contracted business into recognised revenue remain separate steps. Each is necessary to assess progress beyond the commitment announcement and the initial compute operations already described.