Digi Power X Gets $200M Debt Commitment for Alabama AI Data Center

Financing structured at project level

According to the company, the commitment comes from a major lending institution and is subject to definitive documentation and the satisfaction of various conditions, including the lender completing its diligence. The financing is to be structured at the level of a project special purpose vehicle (SPV), with an unsecured company guarantee through project completion and other limited matters.

Digi Power X says the proceeds are intended to support completion of the Alabama project and related project costs. The company argues this helps preserve corporate liquidity, mitigate shareholder dilution and position it to pursue additional customer contracts.

Chairman and CEO Michel Amar described the commitment as "an important step toward completing our Alabama campus while limiting dilution for our shareholders."

Cash, spending and construction schedule

Digi Power X reported that it currently holds approximately US$135 million in cash and has invested approximately US$153 million in capital expenditures year to date in 2026. It also said it issued no shares under its at-the-market equity offering program during the third quarter of 2026, so there was no ATM-related shareholder dilution in that period.

Construction at the Alabama campus remains on target, according to the company. Phase 1 is expected to be completed in December 2026 and Phase 2 in March 2027.

ARMS 200 deployment and Supermicro partnership

The company's first ARMS 200 modular data center has been operating since May 2026 and supports its GPU bare-metal business. Digi Power X says the deployment shows it can manage the supporting infrastructure, including power, cooling, data center operations and GPU systems.

Its partnership with Super Micro Computer, Inc. (Supermicro) provides dedicated, bare-metal access to NVIDIA Blackwell GPUs, letting customers run AI workloads without building or managing the underlying infrastructure. Digi Power X says Supermicro recently highlighted the collaboration publicly.

Token factory expansion, New York and Silicon Valley

Digi Power X plans to expand its AI token factory infrastructure through its NeoCloudz platform, using the proprietary ARMS modular data center systems of US Data Center, Inc. The company is the largest shareholder of a subsidiary of US Data Center. The aim is to support growth in GPU bare-metal services and AI token generation and to add modular capacity to meet customer demand.

President Alec Amar said the company will unveil its AI token factory at NVIDIA GTC Berlin and that it "owns the whole stack, from the power to the data center to the computer."

The company is also in the planning phase to repurpose its New York State sites into AI token factories. The planned conversion is designed to reduce site noise and use closed-loop cooling that recirculates coolant without routine evaporative water use. In addition, Digi Power X has acquired an office and laboratory facility in Silicon Valley to develop technology and operational intelligence for its token factory strategy.

What it means

If the financing closes, Digi Power X would have dedicated debt funding for its Alabama build rather than relying on equity sales. The commitment is not yet final: the company itself lists the risk that closing conditions are not met, that the lender's commitment is modified or terminated, or that proceeds prove insufficient for all remaining construction and project costs. The company also cites construction delays, cost overruns and equipment or power availability as risks.