一笔约5亿美元的数据中心贷款组合被一次性挂牌出售，这是一场罕见的拍卖，正值美国中期选举民主党大胜、令许多项目前景蒙上阴影仅数日之后。
A roughly $500 million portfolio of data center loans has been put up for sale all at once, in a rare auction that comes just days after a Democratic sweep of US midterm elections raised doubts about the future of many of the projects.
据知情人士透露，这位匿名卖方正通过所谓的“竞价招标”流程，就十余笔贷款征集报价。待售贷款包括一笔2500万美元的贷款份额，该贷款为OpenAI、软银集团和甲骨文公司合资的“星际之门”项目在新墨西哥州的一个大型数据中心选址提供支持。正是在这个地点，甲骨文曾向开发商发出通知，援引不可抗力条款。
The anonymous seller is taking offers for a dozen loans via a so-called bids-wanted-in-competition process, according to people familiar with the matter. The loans for sale include a $25 million slice backing a massive data center site that’s part of OpenAI, SoftBank Group Corp. and Oracle Corp.’s joint Stargate project in New Mexico. It’s the location where Oracle sent the developer a notice citing force majeure.
知情人士称，卖方还寻求出售与Vantage Data Centers和CyrusOne等运营商相关的债务。这些人因信息属私密而要求不具名。他们补充说，贷款竞标截止日期为11月19日，最低竞标规模为1000万美元。
The seller is also looking to offload debt tied to operators such as Vantage Data Centers and CyrusOne, said the people, who asked not to be named because the information is private. Bids on the loans are due Nov. 19 and must be at least $10 million in size, they added.
这次拍卖是专门包含数据中心债务的首批同类拍卖之一，反映出美国中期选举后，市场对AI建设热潮的更广泛悲观情绪。在许多开发商布局的得克萨斯州，当选的民主党州长呼吁立即暂停此类项目的建设。
The auction, among the first of its kind that exclusively contains data center debt, reflects broader market pessimism about the AI buildout in the wake of the US midterm elections. In Texas, where many developers have a presence, the Democratic governor-elect has called for an immediate moratorium on construction for the projects.
纳斯达克100指数周四跌幅一度达6.4%，这一大幅下跌延续了数周来华尔街投资者的担忧，他们一直在撤离AI交易，质疑收入能否证明惊人的支出是合理的。在高收益债市场，与数据中心开发商或项目相关的垃圾债，包括CoreWeave Inc.和Galaxy Digital Inc.的债券，跌幅居前。
The Nasdaq 100 fell as much as 6.4% on Thursday, a sharp drop that extends weeks of concerns from Wall Street investors who have been retreating from the AI trade as they question whether revenue can justify the breathtaking spending. In the high-yield market, junk bonds tied to data center developers or projects, including CoreWeave Inc. and Galaxy Digital Inc., saw some of the biggest declines.
华尔街普遍在应对这样一种风险：信贷市场吸收AI债务的能力可能正接近极限。
Wall Street is broadly contending with the risk that the credit market is nearing the limit for how much AI debt it can absorb.
据彭博社本周报道，高盛集团和阿波罗全球管理公司正寻求将与SpaceX相关的有史以来最大规模芯片融资的部分份额进行银团分销。它们于10月在定价前承诺参与该交易，如今面临市场风向转变、对其不利的前景。
Goldman Sachs Group Inc. and Apollo Global Management Inc. are looking to syndicate portions of the largest chip financing on record tied to SpaceX, Bloomberg reported this week. They committed to the deal in October before pricing it, and now face the prospect of the market turning against them.