Request for Information Finance.pdf

Request for Information (RFI)

Title: Financing Options for Supercomputer Hardware at Oak Ridge National Laboratory

Responses Due: February 20th, 2026

Contact: James Brimhall, Contracts Division — brimhalljm@ornl.gov

1. Introduction

Oak Ridge National Laboratory (ORNL), managed and operated by UT-Battelle, LLC for the U.S. Department of Energy (DOE), is issuing this Request for Information (RFI) to gather information from qualified financial institutions, leasing providers, or other organizations capable of offering lease-to-own (LTO) financing for the leadership-class high-performance computing (HPC) supercomputer system named Discovery, to be sited at ORNL.

This Request for Information (RFI) is issued solely for market research and planning purposes. Responses to this notice are not offers and cannot be accepted by UT-Battelle to form a binding contract. This RFI does not commit UT-Battelle to issue a solicitation, make an award, or pay for any information or administrative costs incurred in response.

The build contract award for the Discovery computer system to Hewlett-Packard Enterprise (HPE) was announced in October 2025. Discovery will be based on the new HPE Cray Supercomputing GX5000, a next generation supercomputer powered by a combination of AMD EPYC “Venice” processors and AMD Instinct MI430X GPUs.

Discovery will continue ORNL’s and DOE’s proven record of HPC leadership. The lab is home to the Oak Ridge Leadership Computing Facility (OLCF), a DOE Office of Science user facility, which has deployed a total of seven flagship supercomputers since 2004.

Each of the last four machines – Jaguar, Titan, Summit and Frontier – were recognized as the world’s fastest system of its time. These leadership-class systems support scientists in achieving cutting-edge breakthroughs and have provided unprecedented computational science capabilities for the nation.

ORNL finances large HPC procurements with lease-to-own financing, as authorized by DOE Order 130.1A 4.a(13). We anticipate a Request for Proposals for lease financing to be released in late 2026, with one or more Master Lease-to-Own Agreements (MLTO) to be awarded in late 2027 and execution of individual LTO agreement(s) in the first half of CY 2028. We expect that the total amount of principal to be financed will be in the range of $350M to $450M, through one or more lease streams. The principal sum represents https://www.ornl.gov/news/ornl-amd-and-hpe-deliver-does-newest-ai-supercomputers-discovery-and-lux compute, storage, networking and management hardware only; no site, infrastructure, or support and maintenance financing is included.

2. Purpose

The purpose of this RFI is to obtain information regarding industry capabilities, financing capacity, lease structures, interest-rate methodologies, and key contract terms associated with providing LTO financing for an HPC system with significant capital value. Information received may be used to refine acquisition strategies and potential future solicitations.

3. Requested Information

Respondents are requested to submit information addressing the elements listed below.

Responses should be complete, concise, and sufficiently detailed to allow UT-Battelle to assess industry capabilities and commercial practices. Respondents are requested to clearly identify any assumptions underlying their responses (e.g., credit support, insurance structure, timing of acceptance, or regulatory treatment).

3.1 Respondent Demographics and Capabilities

a) Company name, address, business type, and ownership structure.

b) Years in business and relevant industry certifications.

c) Description of experience providing lease-to-own or similar financing for large-scale capital equipment or IT infrastructure.

d) Summary of organizational capabilities, financial resources, and risk-management processes relevant to long-term equipment financing.

3.2 Financing Capacity

a) The total amount of financing your organization may be able and willing to provide for an HPC system of this scale.

b) Helpful information regarding limits, constraints, or conditions affecting financing availability.

c) Factors that may influence credit evaluation for a federal or public-sector entity.

3.3 Benchmark Interest Rates

a) Benchmark rate indices used to structure LTO transactions (e.g., U.S. Treasury yields, SOFR, or other indices).

b) Whether rates are typically fixed, floating, or a blended structure.

c) Frequency of rate resets or applicable rate conventions.

3.4 Factors Affecting Offered Interest Rates

a) Market, credit, collateral, regulatory, or liquidity factors that may influence interest-rate levels.

b) Considerations specific to depreciable assets, such as HPC equipment.

c) Use of hedging mechanisms or rate-lock tools.

3.5 Origination Fees

a) Typical origination, structuring, or administrative fees associated with LTO financing.

b) Fee ranges and determinants.

c)

3.6 Interest Rate Locks

a) Standard durations of interest-rate locks available for transactions of this magnitude.

b) Mechanisms for extending interest-rate locks, including costs, procedural requirements, and limitations.

c) Circumstances that may require renegotiation or voiding of a rate-lock commitment.

NOTE: ORNL recognizes that long-dated interest rate locks may not be feasible and is seeking information on market-standard approaches for managing rate exposure during extended pre-acceptance periods.

3.7 LTO and Master Lease Agreement Mechanics

a) Description of standard LTO contract mechanics, including amortization, rent schedules, and title transfer procedures.

b) Use of master lease agreements, including treatment of:

a. Schedule additions

b. Multi-year deployment phases

c. Upgrades or equipment refresh cycles

d. End-of-term options, buyout provisions, and asset disposition processes.

e. Requirements for equipment acceptance, valuation, and verification.

3.8 Insurance Requirements

a) Types and levels of insurance typically required for leased equipment.

b) Acceptability of Government-provided self-insurance in lieu of commercial policies.

c) Methods for documenting or validating coverage.

3.9 Prepayment and Early Payoff Policies

a) Policies regarding prepayment or accelerated payoff of principal.

b) Applicability of prepayment penalties or breakage fees.

c)

3.10 Required Terms and Conditions

a) Standard terms and conditions typically used by your organization for large-scale LTO arrangements.

b) Any terms that may be inconsistent with federal acquisition requirements or common public-sector contracting provisions.

c) Any terms that materially affect pricing or risk.

3.11 Feedback on UT-Battelle’s Proposed Terms and Conditions

UT-Battelle will provide a draft of proposed terms and conditions as a separate attachment.

Respondents are requested to:

a) Identify terms that may be problematic.

b) Recommend modifications to improve clarity, reduce ambiguity, or align with industry practices.

c) Describe any terms that would significantly impact interest rates, fees, or deal structure.

4. RESPONSE INSTRUCTIONS

4.1 Submission Requirements

Responses shall be submitted electronically in PDF or Microsoft Word format. Proprietary information shall be clearly marked and segregated as appropriate.

To facilitate consistent review and analysis, respondents are strongly encouraged to organize their responses using the numbering and headings in Section 3 (e.g., 3.1, 3.2, etc.). Narrative discussion is acceptable; tabular or bullet formats may be used at the respondent’s discretion.

4.2 Point of Contact

Responses shall be submitted to:

James Brimhall Procurement Officer

Oak Ridge National Laboratory brimhalljm@ornl.gov

Questions regarding this RFI may be submitted to the Point of Contact listed above.

FAQ

1. Transaction Size & Core Economics

• What is the estimated total hardware value or financing amount?

Approximately $350M–$450M.

• What financing structure is ORNL seeking?

Lease-to-own only.

• What is the expected contract term?

Approximately 5 years.

• Should pricing assume fixed or variable interest rates?

Fixed rate.

• When do payments begin?

Upon system acceptance.

• What is the expected payment cadence?

Monthly or quarterly.

2. Acceptance, Payment Triggers & OEM Interface

• Who controls acceptance and triggers payment—the OEM or ORNL?

ORNL will manage acceptance and trigger payment.

• Will ORNL define formal acceptance criteria (e.g., functional and performance testing)?

Yes.

• Is there a single OEM/system integrator or multiple parties?

Single system integrator: HPE.

• Will financing entities be permitted to coordinate directly with the OEM during proposal or due diligence?

Direct coordination with the OEM will generally not be permitted; however, ORNL may facilitate limited, structured due diligence communication as appropriate in the RFP phase.

3. Process & Participation

• What is the anticipated timeline for RFI review and potential RFP issuance?

ORNL plans to complete RFI response reviews in February 2026 and release an RFP in late 2026.

• May respondents submit conceptual term sheets or illustrative structures?

Yes.

• Will ORNL conduct an industry day or structured Q&A?

Yes; Tentative Dates: Onsite at Oak Ridge National Lab- Summer 2026

Details will be sent to respondents to this RFI and posted on a publicly-available website.

• Will responses be released publicly or require redacted versions?

Responses will be considered confidential and we will not publicly release nor share identifiable response information with other responders.

• Will evaluation criteria (cost of capital, flexibility, risk allocation) be defined in the RFP?

Yes.

• Who is the point of contact for RFI questions?

James Brimhall, Procurement Officer – brimhalljm@ornl.gov mailto:brimhalljm@ornl.gov