November 2 – Singapore-based data center operator STT GDC is in talks with banks for a three-year syndicated loan of S$3.1 billion (approximately US$2.4 billion), according to people familiar with the matter, as the artificial intelligence boom continues to fuel debt financing demand among infrastructure companies. The loan carries an interest rate 165 basis points above the Singapore Overnight Rate Average (SORA) and includes an option to extend by up to two years, with proceeds earmarked for asset financing. The deal further entrenches the company in the wave of debt financing driven by the AI boom. Large-scale borrowing has pushed up bond yields and sparked investor concerns, heightening market scrutiny of overvalued AI-related companies. Data shows that global AI-related debt financing has exceeded US$650 billion since the beginning of 2025, and Moody's Ratings expects data center-related investment to reach at least US$3 trillion over the next five years.