JPMorgan, MUFG Poised to Finance $22 Billion Texas AI Data-Center Campus

JPMorgan Chase & Co. and Mitsubishi UFJ Financial Group are in advanced talks to arrange roughly $22 billion of debt financing for a vast data-center development in Texas, according to the Financial Times. The package would be among the largest single project-finance deals on record and would underpin a surge in infrastructure spending tied to artificial-intelligence workloads. The funding is expected to support Vantage Data Centers’ planned ‘Frontier’ campus, a 1,200-acre site in Shackelford County that the company says will cost more than $25 billion to build. Reuters reports the project will house 10 data centers with a combined 1.4 gigawatts of capacity, with the first building scheduled to come online in the second half of next year. Vantage, backed by Silver Lake and DigitalBridge, says the complex will accommodate ultra-high-density racks exceeding 250 kilowatts each. The prospective loan underscores both the capital intensity of AI computing and the willingness of global lenders to bankroll asset-heavy digital infrastructure. Oracle, for instance, is said to be committing tens of billions of dollars to its own West Texas megasite, while hyperscalers such as Alphabet, Microsoft and Meta are also pouring money into additional capacity. A final agreement between JPMorgan, MUFG and Vantage has not yet been signed.