“Every single major bank and financial institution has piled hundreds of millions if not billions of dollars into building data centers that take forever to even start generating money, at which point they only seem to lose it.”
Our reading:
Every single major bank and financial institution has put hundreds of millions if not billions of dollars into building data centers that take forever to start generating money and then only seem to lose it.
Assessment: Can’t be checked
What happened
Not graded on evidence
Outcome: Can’t be checked
An opinion, a recommendation, or too vague to test. Listed, not scored.
Evidence up to . Checked .
Why
The claim says every single major bank and financial institution has put hundreds of millions or billions into data centers that are slow to earn money and then 'only seem to lose it.' An October 12, 2026 summary of a Bloomberg report says lenders led by JPMorgan and MUFG syndicated a record $38 billion construction loan for Oracle-leased data centers in Texas and Wisconsin. More than two dozen banks and investors joined it, including Wells Fargo, BNP Paribas, Goldman Sachs, Sumitomo Mitsui and Societe Generale (e1). This is context for the financing part only. 'Every single major bank and financial institution' names no defined set to check. 'Take forever' has no measure. 'Only seem to lose it' is a hedged impression, not a firm claim that the projects lose money. The packet contains no revenue or profit data for any financed data center. Under the contract, the claim is not scored.
Caveats
- e1 covers one loan and is a secondary summary of a Bloomberg report.
- The packet does not show each institution's exposure or how much each one lent.
- The packet has no operating results for any bank-financed data center, so it does not show whether such projects earn or lose money.
Evidence (1 item)
Claims like this aren’t scored, so there is no evidence to show.
How we judged it
- Kind of claim
- Observation
- Deadline
- None given. We don’t add one.
Conditions
- every single major bank and financial institution (their words)
- only seem to lose it (their words)
Where we had to interpret
- The claim has two parts: that every major bank and financial institution has put at least hundreds of millions into data center construction, and that those data centers take a long time to earn money and then 'seem' to lose it.
- 'Every single major bank and financial institution' names no defined set, so the universal cannot be checked institution by institution.
- 'Only seem to lose it' is an impression, not a firm claim that the projects are loss-making. Treating it as a firm loss claim would drop his hedge.
- Project-level revenue and profit for bank-financed data centers are generally not public.
We don’t grade claims like this. We only check the quote and who said it.
We found 31 claims in this post. See them all.
Full record
Source and dates
Where's Your Ed At, The Enshittifinancial Crisis, paragraph 248.
- Said
- We read the source
- live page, full text, public
- Evidence up to
- Checked
We read this wording on 2026-10-28. The post may have been edited after 2025-12-29.
Where it was said (1)
Said once in the posts we read.
: Where's Your Ed At, The Enshittifinancial Crisis
Every single major bank and financial institution has piled hundreds of millions if not billions of dollars into building data centers that take forever to even start generating money, at which point they only seem to lose it.
- Where
- paragraph 248
- Published
- 2025-12-29
- We read it
- , live page
- Access
- full text, public
History
Versions
- Current: Can’t be checked. Evidence up to 2026-10-28.
What happened to this record
PublishedBy us
Published after both AI reviews and the final check passed.
Held backBy us
A reviewer said our test wasn’t fair to what was actually said.