Alpha Compute Corp. (NASDAQ: ALP) executed a binding term sheet for a $31.9 million non-recourse loan facility secured by Nvidia B300 graphics processing units, the company announced.

The structured credit facility with an undisclosed institutional lender restricts collateral to the underlying Nvidia GPU assets and facility build-out. The non-recourse structure limits the lender's remedies in case of default to the pledged hardware, excluding claims against the company's other assets or equity.

"By leveraging the intrinsic and growing asset value of Nvidia GPUs as collateral, we are able to scale our compute capacity in a capital-efficient manner that preserves flexibility across our broader balance sheet," said Brittany Kaiser, Chief Executive Officer of Alpha Compute.

The company plans to use proceeds for AI infrastructure, data center expansion and networking to support growth initiatives. Alpha Compute operates AI infrastructure with confidential compute and hardware-level encryption, serving clients including Telegram, Animoca Brands and Midnight Network.

The facility represents a senior secured loan structure backed by Dell B300 Nvidia GPUs. While the binding term sheet has been executed, definitive documentation remains in process. Alpha Compute, formerly AlphaTON Capital Corp., provides GPU-as-a-Service and AI Confidential Compute solutions.