The US AI data center buildout is posing complex challenges to major lenders as they stretch themselves to finance, insure, and underwrite a novel asset class (Financial Times)

The article explains that major lenders are confronting unprecedented difficulties as they try to finance, insure and underwrite U.S. AI data center projects, a new asset class that demands large, long-term capital commitments and carries heightened operational and regulatory risk. It details how banks must adapt underwriting standards and risk-management frameworks to accommodate the scale, technology-specific exposures, and the need for specialized insurance coverage.