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SingTel Secures $476 Million Green Loan for Data Centre Development

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Singapore Telecommunications (SingTel) announced that it has secured a green loan worth S$643 million ($476.16 million) to fund the development of a new 58-megawatt (MW) data centre in Singapore. The loan, which spans five years, has been provided by a consortium of lenders, including DBS Group, OCBC, Standard Chartered, HSBC, and United Overseas Bank.

Green loans are specifically designated to finance projects that support environmental sustainability, reflecting the increasing focus on aligning data centre growth with climate goals, especially as industries like artificial intelligence (AI) and cloud computing drive rising demand for such facilities. SingTel’s new data centre, located in Tuas, is expected to be operational by 2026 and will feature a high-density environment ideal for handling the growing AI workloads.

Arthur Lang, SingTel’s group chief financial officer, emphasized that this green loan would help the company contribute to Singapore’s digital economy while aligning with its long-term net-zero objectives. SingTel had previously secured a S$535 million green loan in December 2023 to refinance debt and fund the development of two other data centres in Singapore.

 

SoftBank in Talks to Invest Up to $25 Billion in OpenAI

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SoftBank is in discussions to invest between $15 billion and $25 billion in OpenAI, the owner of ChatGPT, according to a source familiar with the matter. The move is part of the Japanese conglomerate’s ongoing efforts to expand its footprint in the AI sector. Some of the investment may go towards funding OpenAI’s commitment to Stargate, a joint venture between Oracle, OpenAI, and SoftBank.

The Stargate project aims to secure up to $500 billion in investments to keep the U.S. ahead of China and other global competitors in the AI race. SoftBank has already committed $15 billion to Stargate and is exploring additional financing options for the project. The investment talks with OpenAI are still in early stages, according to the source.

Earlier reports indicated that SoftBank is considering a total investment of $40 billion into both Stargate and OpenAI, including borrowing up to $18.5 billion in financing, secured by its publicly-listed assets. The venture was unveiled at a White House event last week, attended by U.S. President Donald Trump, SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman, and Oracle Chairman Larry Ellison.

However, SoftBank’s stock price has taken a hit following a market selloff triggered by the rise of DeepSeek, a Chinese AI startup that introduced a free AI assistant developed at a fraction of the cost of its U.S. competitors. This shift has raised concerns about the sustainability of business models that rely on expensive AI technology and contributed to a decline in SoftBank’s shares, which were down 1% in morning trading on Thursday.

Despite this, SoftBank remains committed to strengthening its position in the AI sector. The company already holds a $1.5 billion stake in OpenAI, which was valued at $157 billion in its most recent funding round. SoftBank and OpenAI have yet to comment on the reported investment discussions.

 

Northvolt Moves Toward Longer-Term Bankruptcy Financing

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Swedish electric vehicle battery manufacturer Northvolt announced on Friday that it is making progress toward securing additional bankruptcy financing, with plans to finalize the arrangement by late January. Since entering bankruptcy on November 21, the company has engaged with over 100 potential lenders and investors to secure the necessary funds for its restructuring.

Northvolt’s initial bankruptcy loan, a $100-million facility from Swedish truck maker Scania, was meant to help the company through the early stages of its restructuring. However, it was not intended to carry the company through the entirety of the bankruptcy process. The company is now actively evaluating proposals from both strategic and financial investors to provide long-term financing.

At a court hearing in Houston on Friday, Northvolt’s attorney, Jack Luze, confirmed that the company is working on a longer-term financing proposal, which will be presented to U.S. Bankruptcy Judge Alfredo Perez during a court session scheduled for January 28.

Judge Perez approved the bankruptcy loan in full on Friday, after previously allowing the company to access the initial $51 million from the loan. A Northvolt spokesperson expressed satisfaction with the progress, noting the approval of the loan as an important step in the restructuring process.

The company, which has raised over $10 billion in an effort to produce electric vehicle batteries and compete with dominant Chinese manufacturers, remains operational with around 6,600 employees across seven countries. Northvolt is hopeful that its bankruptcy restructuring will allow it to continue business as usual while addressing its financial challenges.