AI debt concerns grow as ING reportedly seeks buyers for $500 million of data center loans

ING is reportedly seeking buyers for about $500 million in loans linked to data centre projects, as investors scrutinise the debt financing the artificial intelligence boom. The potential sale comes amid fears that construction could slow and returns on large AI investments may disappoint, raising questions about lenders’ exposure.

Investment banks commonly arrange these loans with the intention of distributing them to private credit investors, asset managers or insurers seeking higher returns, according to SMBC strategist Hank Calenti. Concerns about tighter US state restrictions on data centre construction have grown after Democrats’ gains in the midterm elections; on Thursday, the Nasdaq fell 5.5%, its worst day since April 2025, and entered correction territory. Aberdeen Investments’ Pruksa Iamthongthong said markets may remain volatile while investors assess possible construction delays and limits on computing capacity.