18 Aug 2026
Fifteen lenders are financing the significant expansion of data center construction, accounting for $1.3 trillion in debt for 4,296 facilities nationwide.
Morgan Stanley
Morgan Stanley is a leading financial partner in the burgeoning data center sector, contributing to a significant surge in debt financing for these critical infrastructure projects. The firm is involved in a substantial $1.3 trillion debt market supporting thousands of new facilities nationwide. This positions Morgan Stanley at the forefront of enabling the digital economy's rapid expansion and the complex financing needs it entails.
The firm's strategic involvement extends to facilitating large-scale, energy-intensive developments, such as the recent discussions for a major financing package for Anthropic's Texas campus. This initiative, which includes a significant gas plant, highlights Morgan Stanley's role in supporting ambitious technological projects and the energy transition required for their operation.
This engagement with Anthropic builds on Morgan Stanley's established pattern of supporting foundational technological infrastructure, including prior debt financing for Meta's data center projects. The financing structures for these large projects are becoming increasingly complex, involving multiple parties and evolving credit risk models, underscoring the dynamic nature of the large-scale data infrastructure market.
Last updated August 23, 2026
Coverage
9 Aug 2026
Volta exited stealth mode, signing a long-term lease with Bitdeer in Norway concurrently with a J.P. Morgan backstop and Google's completion guarantee, despite Texas's weather issues.
4 Aug 2026
Google significantly underwrites Anthropic's Texas operations by guaranteeing leases and taking a stake, influencing major deals like the $15 billion Nexus transaction.
3 Aug 2026
Nexus plans an Anthropic campus in Hubbard, Texas, with a 1.6-gigawatt gas plant, backed by a $14 billion loan led by Morgan Stanley, Google's guarantees, and Broadcom's TPU financing.
2 Aug 2026
Google's guarantee reportedly unlocks $15 billion in debt for Nexus's Anthropic Texas campus, alongside Nvidia's OpenAI backstop and AirTrunk's Johor financing close.
27 Jul 2026
BlackRock is financing Meta's El Paso campus with a $12.3 billion debt package, aiming for 1 gigawatt capacity by 2028, involving major financial institutions.
20 Jul 2026
Meta is shifting a multi-billion dollar AI infrastructure project off its balance sheet through a Blue Owl joint venture, supported by Morgan Stanley and Entergy.
25 Mar 2026
Echelon Data Centres has successfully arranged €1.7 billion in loan financing from Morgan Stanley, with these funds earmarked to support the company's ongoing expansion efforts across Europe.