Apr. 7 at 6:42 PM
PickAlpha Midday:
Pimco is reportedly in talks with Bank of America to help provide roughly
$14B of debt financing for Oracle’s Michigan data center campus tied to OpenAI workloads. The bigger takeaway is not just that one project is getting funded — it is that AI infrastructure is increasingly being financed like a scalable institutional credit asset, not just a corporate capex line item. 
Tickers:
$ORCL $BAC $BX
Our view is this is bullish for the AI buildout because the capital markets are still showing up for jumbo data-center deals. But it is also a live test of financing discipline: if projects like this keep clearing, the market is saying AI capex is still financeable at scale, not just narratively exciting.