JPMorgan (JPM) and MUFG Eye $22B Loan for Texas AI-Driven Data Hub

JPMorgan Chase & Co. (NYSE:JPM) is one of the best stocks to buy according to billionaire Ken Fisher. On August 20, JPMorgan Chase and Mitsubishi UFJ Financial Group entered talks to underwrite a $22 billion loan for a major data center project in Texas, led by Vantage Data Centers, backed by Silver Lake and DigitalBridge.

The two investment firms are contributing $3 billion in equity toward the development. Fueled by surging demand from AI technologies, data centers have become top-tier assets, with limited supply and rising rents driving investor interest. Texas, known for its low energy costs, is emerging as a hotspot for data infrastructure expansion.

JPMorgan Chase & Co. (NYSE:JPM) is a financial services company that offers investment banking, commercial banking, financial transaction processing, and asset management services. It supports economies worldwide and serves millions of clients.

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Disclosure: None. This article is originally published at Insider Monkey.