ING Puts $500 Million of Data Center Loans Up for Sale
ING, a major bank, is selling $500 million of loans that finance data centers. One $25 million loan is tied to a large data center in New Mexico. That site is part of Stargate, an AI infrastructure venture backed by OpenAI, SoftBank Group and Oracle, according to the report.
Quick glossaryING, Stargate, data center
- ING
- ING is a global bank based in the Netherlands, best known for its banking and lending services.
- Stargate
- A large joint project to build AI computing facilities, backed by several big tech and finance firms.
- data center
- A building packed with powerful computers that store information and run online services and AI.
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