JPMorgan (JPM) and MUFG Eye $22B Loan for Texas AI-Driven Data Hub

JPMorgan Chase & Co. (NYSE:JPM) is one of the best stocks to buy according to billionaire Ken Fisher. On August 20, JPMorgan Chase and Mitsubishi UFJ Financial Group entered talks to underwrite a $22 billion loan for a major data center project in Texas, led by Vantage Data Centers, backed by Silver Lake and DigitalBridge.

JPMorgan (JPM) and MUFG Eye $22B Loan for Texas AI-Driven Data Hub

The two investment firms are contributing $3 billion in equity toward the development. Fueled by surging demand from AI technologies, data centers have become top-tier assets, with limited supply and rising rents driving investor interest. Texas, known for its low energy costs, is emerging as a hotspot for data infrastructure expansion.

JPMorgan Chase & Co. (NYSE:JPM) is a financial services company that offers investment banking, commercial banking, financial transaction processing, and asset management services. It supports economies worldwide and serves millions of clients.

While we acknowledge the potential of JPMorgan Chase & Co. (NYSE:JPM) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than JPM and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.