Data center debt gets pricier as banks grow pickier on lending

CleanSpark, which is building a data center for Meta, had to offer investors major concessions to secure financing. Lenders including Société Générale, Sumitomo Mitsui and Mitsubishi are becoming more selective about data center loans, potentially slowing the AI build-out.

• CleanSpark won financing for Meta's data center only with investor concessions
• Société Générale, Sumitomo Mitsui and Mitsubishi tightened project screening
• Rising borrowing costs threaten planned data center construction