HSBC CEO says AI boom requires selective data center investments
HSBC chief executive Georges Elhedery told CNBC that while artificial intelligence is a transformational technology, investors should be selective about data‑center investments. He urged looking at the quality of tenancy agreements and contract pricing, noting that not all facilities can support strong demand.
Key points
- HSBC CEO Georges Elhedery warns investors to be selective about data center tenancy and pricing despite AI boom.
- Global data center spending could reach $7 trillion by 2030, while hyperscalers raised $200 billion last year and may raise a trillion this year.
- JPMorgan Chase estimates $4.1 trillion in AI‑related debt will be issued by the end of the decade.
HSBC, the seventh‑largest bank worldwide and Europe’s biggest lender with assets close to $3 trillion, is both a financier and operator of data centers. The bank’s 2025 annual report says it aims to be the leading bank for fast‑growing transition ecosystems, serving customers in the data‑center and AI sectors. Global data‑center spending could reach $7 trillion by 2030, and hyperscalers raised $200 billion in bond financing last year, with a trillion expected this year. JPMorgan Chase estimated earlier this year that $4.1 trillion in AI‑related debt will be issued by the end of the decade.
The story so far
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HSBC CEO warns the AI boom won’t make every data center a good bet
CNBC Technology · 20 October 2026
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