$18bn of loans tied to Oracle's New Mexico data centre slide into stressed territory

GaryMarcus · x · 2026-09-20

Per the FT, about $18bn of loans tied to a data centre leased to Oracle in New Mexico slid into stressed territory on Friday, reflecting investor fears that growing local backlash could derail the company's massive AI infrastructure build-out. Gary Marcus quoted the report to argue that an event like this could trigger a cascade collapsing the whole "house of cards," signaling mounting AI infrastructure bubble risk.

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