Anonymous Seller Opens Bidding on About $500 Million in Data Center Loans

An anonymous seller opened bidding Nov. 6 for a data-center loan portfolio totaling about $500 million, with a Nov. 19 deadline and a portion tied to New Mexico's Stargate project.

The portfolio contains more than 10 loans, with a minimum bid of $10 million for each. A $25 million portion is connected to Stargate, which involves OpenAI, SoftBank and Oracle.

The auction follows Democratic gains in the U.S. midterm elections. Investors have raised concerns about post-election market risks, including that political opposition to data-center expansion could slow AI development and that mounting losses could prompt hedge funds to cut exposure. The current auction sets a deadline and minimum bids for a specific loan package.