Blackstone’s AI Data Center Deals Are Looking Shaky

(Bloomberg Opinion) — In a capital-intensive industry where money is the weapon that catapults startups to scale and overwhelms rivals, financiers can have a lot of sway.

This must be what private credit lenders are banking on as they write big checks to AI data center operators, who will need to spend as much as $30 billion just to bring a gigawatt of computing power online. Not content with earning double-digit yields, some are also dabbling with equity investment, with the hope of capturing more upside.