HSBC CEO cautions that AI growth won’t guarantee returns for all data centers

HSBC CEO Georges Elhedery emphasized AI’s transformational impact on banking but urged selectivity in data center investments, citing variable tenancy and contract quality. Data center spending may reach $7 trn by 2030, fueling concerns over surging AI-related debt as major tech firms aggressively borrow, intensifying competition with governments and increasing pressure on global bond markets.