ING: Markets $500M AI Data Center Loans
Bloomberg reports ING has placed roughly $500 million of data center loans up for sale at once, including a $25 million slice of the OpenAI, SoftBank and Oracle Stargate project in New Mexico.
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ING has placed roughly $500 million of data center loans up for sale in one block, Bloomberg reports, covering 12 facilities that include a $25 million piece of the Stargate site in New Mexico backed by OpenAI, SoftBank and Oracle. Banks sit closest to project contracts, power agreements and construction delays. Oracle has already issued the developer a force majeure notice on Stargate. The S&P 500 shed $3 trillion in a single day amid rising political pressure on AI infrastructure, with data-center junk bonds such as those tied to CoreWeave among the worst hit. Big Tech has issued $326 billion in new debt and equity this year to sustain the buildout.
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