JPMorgan and MUFG Set to Underwrite $22 Billion Texas Data Center Loan

JPMorgan Chase & Co. and Japan's Mitsubishi UFJ Financial Group are reportedly in advanced discussions to jointly underwrite a colossal $22 billion loan aimed at developing a cutting-edge data center in Texas. This initiative could significantly bolster the region's digital infrastructure capabilities.

According to the Financial Times, the project will be spearheaded by Vantage Data Centers, a key player in the digital infrastructure space backed by prominent investors Silver Lake and asset management titan DigitalBridge. These investors are poised to inject a combined $3 billion in equity to bring the ambitious project to fruition.

While this report has drawn considerable attention from industry stakeholders, both JPMorgan and MUFG have not yet provided an official response to queries from Reuters regarding their involvement in the project. The move underscores a growing trend of financial giants increasingly financing technology-driven initiatives.

(With inputs from agencies.)