Banks to lend $18B for Oracle's New Mexico data center
About 20 major banks are teaming up to lend $18 billion for a massive new data center campus tied to Oracle in New Mexico.
Big names like Goldman Sachs, BNP Paribas, Sumitomo Mitsui, and Mitsubishi UFJ Financial Group are leading the way as administrative agents, with plans to bring even more investors on board soon.
This move shows just how serious tech giants are about building up the infrastructure needed for AI.
Data center is part of larger project called Stargate
This isn't just another server farm—it's part of Stargate, a huge $500 billion project led by OpenAI, SoftBank, and Oracle to boost AI power across the US.
The loan comes with a four-year term (plus possible extensions) and competitive rates.
As demand for AI keeps exploding, expect more big investments like this from tech companies racing to keep up.