Banks are looking to offload tens of billions of dollars in loans linked to Oracle’s (NYSE:ORCL) data center buildout, as lenders seek fresh pools of capital to absorb the scale of financing required, the Financial Times reported on Wednesday.
According to the report, at least $56 billion of data center construction loans have already secured investment-grade ratings, based on information from people familiar with the transactions. The debt is backed by Oracle’s future lease income tied to its roughly $300 billion agreement with OpenAI.
Such high credit ratings are uncommon for infrastructure construction loans and have enabled banks to broaden the investor universe beyond traditional project finance buyers. The FT said insurers and private credit funds are among the groups being approached to take on the debt.
Historically, banks have largely financed infrastructure projects like airports and toll roads on their own balance sheets. However, the unprecedented size of modern data center developments has stretched that model, pushing technology companies and their lenders to look for alternative funding channels.
The effort to place these loans comes as major tech firms ramp up borrowing. By 2030, hyperscalers—companies rapidly scaling cloud computing capacity—are expected to account for half of the ten largest issuers in the U.S. investment-grade bond market.
Oracle has already signaled the scale of its ambitions, announcing plans to raise about $50 billion in 2026 to fund continued expansion of its global data center footprint.