JPMorgan and Mitsubishi UFJ Financial Group are in talks to underwrite a $22bn loan to build a 1,200 acre data centre campus in Texas for Vantage Data Centers, one of the world’s largest owners of these facilities.
The two banks are leading the debt financing of Vantage’s planned $25bn Texas data centre campus, which it announced on Tuesday with the backing of local politicians including Republican state governor Greg Abbott, according to people briefed on the talks.
The financing underscores the speed at which Wall Street is cobbling together billions of dollars to build properties that big tech companies rely on to power their artificial intelligence models.