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Banks Exit AI Debt
Banks have begun transferring the risk of loans to data centers tied to the AI boom to investors. ING is seeking to sell a portfolio of 12 loans totaling about $500 million, including a $25 million loan to the Stargate project. The sale does not necessarily mean borrowers are in default, but it comes amid concerns that future returns may not cover the massive spending, and that projects could be delayed or restricted because of their energy and water needs. Banks including JPMorgan and Morgan Stanley have considered reducing their exposure to these loans, while the Nasdaq fell 5.5% in its worst session since April 2025.
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