Major banks are planning to offload $15bn of debt associated with a Google-backed data centre in Texas that has been leased to AI developer Anthropic.
The move comes as Wall Street lenders grow increasingly wary of retaining AI infrastructure debt on their balance sheets, seeking to free up lending capacity amid the surge in mega AI deals.
The decision to syndicate or sell the debt reflects a broader shift in risk appetite among financial institutions.
While the AI boom has driven unprecedented capital expenditure, lenders are reassessing the concentration risk of holding large, long-duration loans tied to unproven revenue models and rapidly evolving technology stacks.
By offloading this specific tranche, banks aim to mitigate potential credit losses and maintain liquidity for other opportunities.
This development underscores the tension between the massive capital requirements of AI infrastructure and the traditional risk management frameworks of commercial banks.