Fixed + Floating - The Credit Podcast
Sep 8, 2026 · 56 min · 16 segments
Ankur Patel (Ares Credit Group) on asset-based finance for data centres, power and GPUs. A one-gigawatt data centre costs $15–20 billion to build…
Ankur PatelGuest
Josef PschornHost
From a pure ABF perspective, what are the concerns around a potential data center overbuild?
Some of the reasons why I'm not as concerned on overbuild is there are some natural breaks on the system.
For a one gigawatt data center, that may cost fifteen to twenty billion dollars to build the physical infrastructure, and two to three times that for the servers and the GPUs.
One of the main goals from a lender perspective is to make sure you have as little residual value at the end.
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From a pure ABF perspective, what are the concerns around a potential data center overbuild?
Some of the reasons why I'm not as concerned on overbuild is there are some natural breaks on the system.
For a one gigawatt data center, that may cost fifteen to twenty billion dollars to build the physical infrastructure, and two to three times that for the servers and the GPUs.
One of the main goals from a lender perspective is to make sure you have as little residual value at the end.
