Wall Street is turning AI's massive power demand into a new bond business.
This market has grown from about $4 billion in 2020 to roughly $61 billion today. Investors are, in effect, financing power supply: rental income is used to repay the bonds, and the factors that truly determine cash returns are electricity costs, available power capacity, and future retrofit needs.
This market has grown from about $4 billion in 2020 to roughly $61 billion today. Investors are, in effect, financing power supply: rental income is used to repay the bonds, and the factors that truly determine cash returns are electricity costs, available power capacity, and future retrofit needs.
