The Pentagon is in the process of negotiating a loan estimated at $5 billion, which is equivalent to approximately R$ 26.25 billion, intended for Fluidstack. This company specializes in cloud computing infrastructure focused on artificial intelligence (AI), according to sources familiar with the matter consulted by The Wall Street Journal.
The funds would be provided by the Office of Strategic Capital (OSC), an agency linked to the United States Department of Defense. Its function is to grant loans to companies operating in sectors considered crucial for national security. If this financing is finalized at this amount, it will represent the largest loan ever granted or considered by this office.
Fluidstack plans to use these funds to reinforce manufacturing capacity and the supply chain within the United States, specifically for components related to data centers. Thus, the main purpose is not to directly finance the construction of a new AI facility.
The company has been working for several months to secure the credit and relies on the advisory of Erebor Bank, a national bank recently established by entrepreneur Palmer Luckey, founder of the defense company Anduril. Although the final terms of the agreement have not yet been defined, the negotiation may undergo adjustments, including the interest rate that Fluidstack would have to pay.
A Pentagon spokesperson stated that the Department does not comment on ongoing or pending transactions until an official statement is issued. The Office of Strategic Capital was established during the Joe Biden administration in 2022, with the goal of assisting in the financing of companies whose activities have applications related to national security.
In the previous year, the program was expanded by Trump through the project called One Big Beautiful Bill Act. These modifications allowed the office to hire highly paid Wall Street specialists and authorized the institution to make available more than $200 billion (about R$ 1.05 trillion) in financing over the next few years. The OSC has already made loans to companies involved in the supply of rare earths and drone production. Some government financing agreements also included warrants or equity stakes, allowing the U.S. government to acquire a share in the beneficiary companies.