JPMorgan Chase and Goldman Sachs are among banks preparing to finance billions of dollars of AI-related infrastructure in Europe, extending a debt boom that has already transformed US credit markets.
Bloomberg reports that lenders are positioning themselves for a growing pipeline of European data-center and computing projects as the region tries to narrow its infrastructure gap with the United States. The financing is expected to span bank loans, bonds, private credit and project-finance structures rather than rely solely on traditional corporate borrowing.
The shift comes after an extraordinary expansion of AI debt in the US. Goldman Sachs estimates that nearly $500 billion of AI-related debt has already been issued globally in 2026. Hyperscalers such as Amazon, Alphabet and Meta represent only part of that total. Data-center developers, power projects, chip financing and specialized cloud providers are increasingly tapping credit markets as well.
Europe has so far absorbed considerably less AI-related issuance. That makes its credit markets attractive as US investors become more selective after a succession of multibillion-dollar technology deals. American technology groups have already begun diversifying internationally: Amazon raised €14.5 billion in March in the largest euro-denominated corporate bond sale on record.
European developers are also turning to debt. French AI company Mistral raised about €830 million to support computing infrastructure near Paris, while data-center operators including AtlasEdge have secured billion-euro financing packages for expansion.
Investor appetite remains strong despite renewed anxiety around AI valuations, development costs and calls to slow frontier-model progress.