Hyperscale data centre operator AirTrunk has secured a 191.6 billion Japanese yen ($1.24 billion) green loan to refinance and expand its TOK1 data centre campus in the greater Tokyo region, in what the company describes as the largest data centre financing ever completed in Japan.
AirTrunk lands $1.24 Billion green loan for Tokyo expansion
The funding will support the next phase of development at the TOK1 campus, which is being built to scale beyond 300 megawatts (MW) of capacity. According to the company, the expansion comes as demand for cloud computing and artificial intelligence infrastructure accelerates across Japan.
@airtrunk Lands $1.2B Green Loan for Tokyo Data Center
AirTrunk secures $1.2B green financing to expand its TOK1 hyperscale data center campus in Tokyo.https://t.co/F2ne7rDDyK#DataCenters #AIInfrastructure #GreenFinance pic.twitter.com/t9RY8RGkbC— DCPulse | Data Center Knowledge Base (@dc_pulse1) March 10, 2026
AirTrunk said the project is part of its broader push to strengthen the country’s digital backbone as businesses increasingly adopt data-intensive technologies.
“Japan is one of the world’s most important cloud and AI markets, and we’re committed to building the digital infrastructure that enables its long-term growth,”
said AirTrunk founder and CEO Robin Khuda.
Construction is already underway to add over 100 MW of additional IT load at the facility to meet near-term demand from major cloud providers and technology companies.
Consortium of Banks backs landmark financing
The green loan was arranged through a consortium of 12 banks, led by Sumitomo Mitsui Banking Corporation (SMBC), MUFG, Crédit Agricole CIB, and Société Générale, all of which served as mandated lead arrangers and bookrunners.
The financing also follows AirTrunk’s broader expansion strategy in Japan, including the development of a second hyperscale campus in Osaka and the establishment of a new Japan headquarters. With these projects, the company’s total investment in the country has now exceeded $8 billion. Once fully developed, AirTrunk’s four Japanese campuses, TOK1, TOK2, OSK1, and OSK2, are expected to deliver approximately 530 MW of combined capacity, positioning the company among the largest hyperscale data center operators in Japan.
The race to build data infrastructure is also drawing interest from the crypto sector. Black Pearl Compute LLC, a subsidiary of Bitcoin miner Cipher Mining, received $13 billion in orders for a $2 billion junk bond sale to fund a massive AI data centre in Texas.
Meanwhile, the rapid growth of AI infrastructure is attracting players beyond traditional cloud companies. Industry forecasts highlight the pace of this expansion. Spending on AI infrastructure in Japan is projected to exceed $5.5 billion in 2026, representing at least 18% year-over-year growth. The broader Japanese data centre market is also expected to reach roughly $30 billion by 2026 as hyperscale providers expand their local footprint to support the growing computational needs of generative AI.
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