AI Credit Ecosystem
Explore KBRA’s cross-sector research, ratings, and analysis of the trends influencing data centers, digital infrastructure and other similar assets across the global capital markets.
AI Credit: Data Centers in Focus—Credit Considerations Across Asset Classes Webinar Recap
KBRA recaps its AI Credit: Data Centers in Focus—Credit Considerations Across Asset Classes webinar held on October 1. The event was co-hosted with Yulchon, a leading Korean law firm, and featured a number of KBRA experts from Corporate, Project and Infrastructure Finance, Structured Finance and APAC Ratings. The speakers examined how artificial intelligence (AI)-driven demand is reshaping data center and GPU credit across project finance, commercial mortgage-backed securities (CMBS), and asset-backed securities (ABS).
Latest AI Credit Research
AI Credit: Off to the Races—AI Infrastructure Commitments Are Reshaping the Credit Profiles of the AI-7 Companies
KBRA examines the credit implications of the rapid expansion of artificial intelligence (AI) infrastructure across the AI-7 companies—modern AI infrastructure leaders including Meta, Amazon, Alphabet, Microsoft, NVIDIA, Broadcom, and Oracle.
AI Credit: AI Compute Infrastructure—Cross-Sector Credit Considerations for GPU-, TPU-, and Accelerator-Intensive Assets
KBRA examines the credit considerations associated with artificial intelligence (AI) compute infrastructure, including graphic processing units (GPU), tensor processing units (TPU), and other accelerator-intensive assets. This report considers these financings from project finance, structured finance, and corporate credit perspectives.
AI Credit: Data Centers in Focus—Credit Considerations Across Asset Classes Webinar Recap
KBRA recaps its Data Centers in Focus: Credit Considerations Across Asset Classes webinar, which was hosted in partnership with Seelaus on July 15. The webinar examined how artificial intelligence (AI)-driven demand is reshaping the financing and credit profile of U.S. data centers across project finance, asset-backed securities (ABS), and commercial mortgage-backed securities (CMBS).
AI Compute Financings: Evaluating Re-Leasing Risk for GPUs and TPUs
KBRA examines re-leasing risk in artificial intelligence (AI) compute financings involving graphic processing units (GPU), tensor processing units (TPU), and related high-performance computing infrastructure. These transactions sit at the intersection of data center and equipment finance, with revenue tied to both the underlying site and the economic competitiveness of the compute capacity.
Data Center Leases: Variations on Established Themes
KBRA releases research examining lease structures in the data center industry. This industry continues to expand rapidly amid increasing demand for artificial intelligence (AI) compute capacity, cloud services, and the proliferation of data-intensive technologies.
Data Centers: Developments and Trends in Project Finance
KBRA examines recent developments and emerging trends in data center project finance. Since KBRA’s prior research on the intersection of data centers and project finance, the sector has expanded rapidly, supported by artificial intelligence (AI), hyperscale cloud adoption, 5G, and the continued shift from on-premises IT infrastructure to outsourced capacity.
Webinars & Podcasts
KBRA & Seelaus: Data Centers in Focus Webinar: Credit Considerations Across Asset Classes
KBRA and Seelaus explored the credit fundamentals behind accelerating data center growth, examining how risk is evaluated across project finance & infrastructure, ABS, and CMBS. The discussion covered key considerations including tenant quality, power availability, lease structures, valuation, and the evolving outlook for digital infrastructure.
Caterpillar Earnings, Data Center Dimensions, and Bonds as a Hedge
Van Hesser, KBRA’s Chief Markets Strategist, explores the expanding data center story, including what Caterpillar’s strong earnings signal about AI-driven infrastructure investment and how data center development is contributing to broader economic growth. He also checks in on whether bonds are providing an effective hedge as market correlations shift.
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News and Recognition
New York's Data Center Freeze Misses the Credit Markets
SoftBank’s $4B Bet on DigitalBridge Fires Up Data Center Ambitions
Data Center Developments in Atlanta Draw Questions, Opposition
Analytical Contacts
Andrew Giudici
Senior Managing DirectorCorporate, Project, and Infrastructure Finance+1 (646) 731-2372[email protected]Business Development Contacts
Rosemary Kelley
Senior Managing DirectorHead of Structured Finance Business Development+1 (646) 731-2337[email protected]
About KBRA’s AI and Credit Markets Coverage
KBRA examines AI exposure across asset classes and financing structures, assessing how AI-related developments may affect borrowers, issuers, investors, and global markets. Our coverage spans the financing and infrastructure supporting AI growth, the implications for individual industries, and the evolving risks and opportunities associated with AI adoption. This page serves as a central resource for KBRA’s latest research, analysis, and perspectives across the AI ecosystem.