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On October 20, 2026, HSBC CEO Georges Elhedery said that AI will transform the banking industry, but investment in data centers must be selective, requiring scrutiny of lease quality and contract pricing, as not all projects are sufficiently robust. Related reports also mentioned that McKinsey estimates global data center spending could reach $7 trillion by 2030, and JPMorgan estimates that $4.1 trillion in AI-related debt will be issued by the end of this decade. Currently, this statement was reported by CNBC Technology, and there are no further developments confirmed by factual evidence.
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HSBC CEO warns: Not every data center is a good investment amid the AI boomDevelopments
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Oct 20
CNBC Technology
HSBC CEO warns: Not every data center is a good investment amid the AI boom
HSBC CEO Georges Elhedery said AI will transform banking, but investing in data centers requires being selective, examining lease quality and contract pricing, as not all projects are robust enough. McKinsey expects global data center spending to reach $7 trillion by 2030, while JPMorgan estimates $4.1 trillion in AI-related debt will be issued by the end of the decade.