Dutch lender ING is putting up for sale about $500 million portfolio of data–center loans all at once, Bloomberg News reported on Thursday, citing people familiar with the matter.
This includes a $25 million loan tied to a large New Mexico data center that forms part of the Stargate AI infrastructure venture backed by OpenAI, SoftBank Group and Oracle, the report said.
The portfolio also includes debt linked to data center operators such as Vantage Data Centers and CyrusOne, the report said, with bids due on November 19 for at least $10 million in size.
ING is seeking bids for a dozen loans through a so-called bids-wanted-in-competition process, according to the report.
ING declined to comment when contacted by Reuters.
The sale comes after a broader selloff that hit chipmakers and so-called neocloud companies particularly hard as Democrats’ sweeping victory in the US midterms fanned fears of tougher regulation of the technology.
The selloff erased $3 trillion in market value from S&P 500 companies. Data center operators Applied Digital, Cipher Digital and IREN tumbled more than 14% each.
Reuters
