Map / Money and funders
Banks
Banks (JPMorgan, Goldman Sachs, MUFG, Mizuho, SMBC and others). Make the bridge loans, margin loans and construction loans that carry AI projects until bonds or private credit take them over.
Depends on
No sourced links yet.
Supplies
- CoreWeave: Morgan Stanley/MUFG-led GPU-backed loan (DDTL 5.0), SOFR+4.50%. Loan, $3.1B. CoreWeave via Business Wire, 2026-05-18
- CoreWeave: JPMorgan/MUFG-led loan (DDTL 5.5), SOFR+5.50%. Loan, $2.6B. Pulse 2.0, 2026-08-11
- Crusoe: JPMorgan-led construction loan for Abilene phase 2 (Crusoe/Blue Owl/Primary Digital $15B JV, 1.2 GW). The site is leased to Oracle and used by OpenAI. Loan, $7.1B. Newmark (press release via Nasdaq), 2025-05-22
- Mistral: Seven-bank loan (BNP Paribas, Credit Agricole CIB, HSBC, MUFG and three others) to buy Nvidia chips for a Paris-area data center. Loan, $830M. Reuters via Yahoo Finance, 2026-03-30
- Oracle: Oracle reportedly sought about $38B of debt for data-center projects (September 2025); lenders not named. Loan, up to $38B. DatacenterDynamics (citing Financial Times), 2025-12-17
- SoftBank: Bridge loan (JPMorgan, Goldman Sachs, Mizuho, SMBC, MUFG) to fund the 2026 OpenAI investment. $10B of undrawn capacity was cancelled in October 2026. Loan, $40B. The Next Web, 2026-04-23
- SoftBank: Margin loan secured on SoftBank's Arm Holdings shares. Loan, $20B. Reuters via The Star, 2026-08-04
- SoftBank: Margin loan secured on SoftBank's OpenAI shares, reported as being arranged in August 2026. Loan, up to $10B. Reuters via The Star, 2026-08-06
- SoftBank: Syndicated loan from about 20 banks. The source says it was arranged about a week before the September 24 bond sale, so the date is approximate. Loan, $11.9B. European Business Magazine, 2026-09-25
- SpaceXAI (xAI): Bridge loan refinancing X and xAI high-yield debt. Loan, $20B. The Next Web, 2026-05-21
- STACK Infrastructure: Debt (SMBC, MUFG, BNP Paribas, Goldman Sachs led; may include bonds) for an Oracle-affiliated Stargate site in New Mexico. Loan, $18B. Octus, 2025-11-11
- Vantage Data Centers: 'Jacquard' project loans (JPMorgan, MUFG lead) for Stargate campuses in Texas and Wisconsin. Loan, $38B. Wall Street Journal via Tiger Brokers, 2025-11-11
AI money
2025 to October 2026
Where the money comes from
Nothing sourced yet.
Where it goes
| What | Amount | Period | Detail and source |
|---|---|---|---|
| Other to Crusoe | $7.1B | May 2025 | JPMorgan-led construction loan for phase 2 of the 1.2 GW Abilene, Texas campus (Crusoe/Blue Owl/Primary Digital JV), leased to Oracle for OpenAI. Newmark (press release via Nasdaq), 2025-05-22 |
| Other to Oracle | up to $38B | Sought September 2025 | Oracle 'sought a debt package of about $38bn' for data centers. The lenders and the final closing were not confirmed in the source we read. DatacenterDynamics (citing Financial Times), 2025-12-17 |
Money flows with other companies
| Money from | Money to | Type | Amount | What, and source |
|---|---|---|---|---|
| Banks | SoftBank | Loan | $40B | Bridge loan (JPMorgan, Goldman Sachs, Mizuho, SMBC, MUFG) to fund the 2026 OpenAI investment. $10B of undrawn capacity was cancelled in October 2026. Matures March 2027 The Next Web, 2026-04-23 |
| Banks | Oracle | Loan | up to $38B | Oracle reportedly sought about $38B of debt for data-center projects (September 2025); lenders not named 2025-09-30 DatacenterDynamics (citing Financial Times), 2025-12-17 |
| Banks | Vantage Data Centers | Loan | $38B | 'Jacquard' project loans (JPMorgan, MUFG lead) for Stargate campuses in Texas and Wisconsin. 5-year loans Wall Street Journal via Tiger Brokers, 2025-11-11 |
| Banks | SoftBank | Loan | $20B | Margin loan secured on SoftBank's Arm Holdings shares. Outstanding Reuters via The Star, 2026-08-04 |
| Banks | SpaceXAI (xAI) | Loan | $20B | Bridge loan refinancing X and xAI high-yield debt matures Sept 2027 The Next Web, 2026-05-21 |
| Banks | STACK Infrastructure | Loan | $18B | Debt (SMBC, MUFG, BNP Paribas, Goldman Sachs led; may include bonds) for an Oracle-affiliated Stargate site in New Mexico. 2025-11 Octus, 2025-11-11 |
| Banks | SoftBank | Loan | $11.9B | Syndicated loan from about 20 banks. The source says it was arranged about a week before the September 24 bond sale, so the date is approximate. Two years European Business Magazine, 2026-09-25 |
| Banks | SoftBank | Loan | up to $10B | Margin loan secured on SoftBank's OpenAI shares, reported as being arranged in August 2026 Two years, due August 2028 Reuters via The Star, 2026-08-06 |
| Banks | Crusoe | Loan | $7.1B | JPMorgan-led construction loan for Abilene phase 2 (Crusoe/Blue Owl/Primary Digital $15B JV, 1.2 GW). The site is leased to Oracle and used by OpenAI. Construction loan Newmark (press release via Nasdaq), 2025-05-22 |
| Banks | CoreWeave | Loan | $3.1B | Morgan Stanley/MUFG-led GPU-backed loan (DDTL 5.0), SOFR+4.50% ~5.5 years CoreWeave via Business Wire, 2026-05-18 |
| Banks | CoreWeave | Loan | $2.6B | JPMorgan/MUFG-led loan (DDTL 5.5), SOFR+5.50% ~5 years Pulse 2.0, 2026-08-11 |
| Banks | Mistral | Loan | $830M | Seven-bank loan (BNP Paribas, Credit Agricole CIB, HSBC, MUFG and three others) to buy Nvidia chips for a Paris-area data center. not disclosed Reuters via Yahoo Finance, 2026-03-30 |
Amounts in US dollars. "Up to" amounts are maximums or depend on conditions. See Does it add up? for the full picture.
Data as of 2026-10-30. Cite as: Ye, Mike. "Banks" (banks). AI Lattice, dataset v0.3.0. https://ailattice.ai/e/banks/. How to cite.