Senator Elizabeth Warren, ranking member of the Banking Committee, with Senators Blumenthal, Van Hollen and Smith, asked Treasury Secretary Bessent and the Financial Stability Oversight Council to open a formal investigation into financial-stability risks from AI data-centre debt, using the Office of Financial Research to gather data. The letter cites estimates of about $3 trillion in data-centre spending through 2028, a $1.6 trillion external financing gap and roughly $800 billion expected from private credit.
Why it matters
It put AI infrastructure leverage, including private-credit exposure, formally on the US systemic-risk agenda.
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- DevelopmentHalf of Fed survey contacts now name AI as a salient financial-stability risk8 May 2026 · Report · USLed to: The Fed's report picks up the AI-debt concerns raised by senators in January
What led here
Earlier developments on the same thread
- DevelopmentMeta signs nuclear deals with Vistra, TerraPower and Oklo for up to 6.6GW by 20359 Jan 2026 · Deal · US
- DevelopmentOpenAI signs 6GW AMD GPU deal and gets warrant for up to 160m AMD shares6 Oct 2025 · Deal · US
- DevelopmentStargate UAE: 1GW OpenAI cluster planned in Abu Dhabi, first 200MW due in 202622 May 2025 · Deal · AE, US
- DevelopmentOpenAI, SoftBank, Oracle and MGX launch $500bn Stargate data-centre venture21 Jan 2025 · Deal · US
What happened next
Later developments on the same thread
- DevelopmentUS Treasury releases AI lexicon and finance-specific AI risk framework19 Feb 2026 · Policy · US
- DevelopmentAnthropic secures multiple gigawatts of Google TPU capacity with Broadcom from 20276 Apr 2026 · Deal · US
- DevelopmentBessent and Powell summon bank CEOs over Anthropic Mythos cyber risk7 Apr 2026 · Statement · US, GB
- DevelopmentKansas City Fed's Schmid asks whether the AI ecosystem is becoming too big to fail25 Sep 2026 · Statement · US
Same story elsewhere
What other countries and bodies did on this
- DevelopmentBank of England flags AI debt boom, circular financing and AI cyber threat7 Jul 2026 · Report · GB
- DevelopmentFSB says AI monitoring in finance is immature, flags supplier concentration10 Oct 2025 · Report · INTL
- DevelopmentEU opens call for up to seven AI gigafactories in at least seven member states30 Jul 2026 · Programme · EU
- DevelopmentUK says 38 of 50 AI Opportunities Action Plan commitments met; Lanarkshire named AI Growth Zone days later29 Jan 2026 · Report · GB
Threads by topic: Financial risk Investment and financing Data centres