In the third quarter of 2026, commercial and industrial (C&I) loans at the 25 largest U.S. banks grew nearly 10% year over year—the fastest pace in more than a decade. Financing for AI data centers and related companies drove much of the growth.
Bank of America, Citigroup and Morgan Stanley recently committed to a $63 billion financing package for AI firm Anthropic to acquire computing equipment.
Despite the boom, bankers remain cautious about the sustainability of the AI build-out and potential bubble risks. They are wary of specialized hardware depreciating rapidly and of uncertainty about future AI demand.
In recent large-scale financing deals, lenders have sought additional protections and higher borrowing costs, signaling a cautious approach to managing the sector’s financial risks.