TLDR Tech / Fintech
Goldman bankers focus on AI data center financing as leveraged finance waits for M&A rebound
AI infrastructure has become the dominant theme in leveraged finance, with data centers, power, and chips creating massive capital needs while traditional M&A-driven debt issuance remains uneven. Recent activity includes more than $20 billion of US junk-bond issuance tied to AI facilities and a proposed $36 billion Apollo and Blackstone financing for Anthropic's infrastructure buildout. Goldman bankers expect AI financing demand to remain strong, but warn that as supply grows, borrowers that miss execution targets could face higher capital costs.
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