U.S. Senators Scrutinize Opaque AI Financing Structures
Senator Elizabeth Warren and three Democratic colleagues have demanded an investigation into the financing mechanisms behind AI data centers. In a January 22 letter to Treasury Secretary Scott Bessent, they highlighted concerns over special-purpose vehicles (SPVs) that obscure debt obligations from corporate balance sheets.
The senators cited Meta's $27 billion Hyperion project in Louisiana as a case study. The deal, structured through a joint venture with Blue Owl Capital, relies on debt issued to institutional investors like PIMCO. Meta will lease the completed facility—a model the lawmakers argue lacks transparency.