Compute lending panic overblown: $10B+ in data center deals priced in two months
Jsevillamol · x · 2026-09-21
Responding to claims that banks are halting compute lending, Jsevillamol cites Shanu Mathew's analysis showing lenders are getting more selective — not shutting down. Recent deals: CleanSpark priced $2.276B of data-center notes at 8.25% yield; Microsoft-linked QTS Project Odyssey priced $3.9B against a $23B orderbook; Lambda secured a $926M GPU loan in August; AirTrunk and Stack arranged A$4.3B and A$8.5B construction loans in July; Eagle Point provided a $1.3B tranche for the Anthropic-linked Nexus project.
The takeaway: credit is pricier and more selective, but the market is far from frozen.
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