据路透社10月27日报道，穆迪评级表示，为人工智能基础设施融资的借贷正将私人信贷推向传统企业借贷之外。
Moody’s Warns AI-Driven Private Credit Growth Could Face Refinancing Strains Reuters reported on October 27, 2026, that Moody’s Ratings said borrowing to finance AI infrastructure is expanding private credit beyond traditional corporate lending.
穆迪预计，到2027年，美国五大超大规模云服务商及CoreWeave的资本支出将接近1万亿美元，资金来源包括现金流、债务、合资企业和特殊目的载体。
Moody’s expects capital spending by the five largest U.S. hyperscalers and CoreWeave to approach $1 trillion in 2027, financed through cash flow, debt, joint ventures, and special-purpose vehicles.
该机构警告，2027年至2029年到期的贷款可能给实力较弱的借款人带来挑战，迫使它们在更高利率下寻求再融资。
The agency warned that loans due from 2027 to 2029 could challenge weaker borrowers seeking refinancing at higher interest rates.
穆迪称，其追踪的607家借款人中有17%采用了实物支付利息。
It said 17% of 607 borrowers it tracked used payment-in-kind interest.
穆迪还指出，科技公司、芯片制造商和人工智能开发商相互投资、相互借贷、相互采购所带来的风险。
Moody’s also flagged risks from technology companies, chipmakers, and AI developers investing in, lending to, and buying from one another.
文章未量化潜在损失，除CoreWeave外也未点名具体受影响借款人。
The article does not quantify potential losses or identify specific affected borrowers beyond CoreWeave.