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Oracle-Linked US$18 Billion Data-Centre Debt Tests Investor Appetite for AI Infrastructure

A discounted US$18 billion loan package tied to an Oracle-leased AI campus signals closer lender scrutiny of leverage, project execution and customer commitments.

By TLA AI Editor3 min read

New Mexico, 19 September 2026 – A reported US$18 billion loan package tied to an Oracle-leased data-centre campus is trading below face value, offering a clear signal that lenders are demanding greater compensation for the credit and execution risks embedded in the artificial-intelligence infrastructure boom. The pressure does not invalidate long-term demand for computing capacity, but it highlights the widening gap between strategic enthusiasm for AI and the financing discipline required for projects measured in tens of billions of dollars.

The loans are linked to Project Jupiter, a planned 1,400-acre campus in Doña Ana County, New Mexico, intended to support Oracle’s broader arrangement with OpenAI for computing capacity. The financing was reportedly arranged by a bank consortium late last year. Syndicate banks including Santander and Jefferies were said to be quoting portions of the debt at 89 to 91 cents on the dollar as efforts to distribute it to a wider investor base slowed.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.