EPISODE · Sep 8, 2026 · 56 MIN
Who Pays for the GPUs? How Lenders Underwrite AI Infrastructure | Ankur Patel (Ares)
from Fixed + Floating - The Credit Podcast · host Josef Pschorn
Ankur Patel (Ares Credit Group) on asset-based finance for data centres, power and GPUs.A one-gigawatt data centre costs $15–20 billion to build. The GPUs and servers inside it can run $40 billion-plus, and they are the shortest-lived asset in the project. Josef Pschorn speaks with Ankur Patel about how that credit is structured so a lender is not relying on residual chip value to get repaid.Shownotes and analyis: https://www.fixedandfloating.com/Ankur Patel: Partner, Ares Credit Group (Alternative Credit).LinkedIn: https://www.linkedin.com/in/ankurjpatelcfaAres Management: https://www.aresmgmt.comConnect with Fixed + Floating: LinkedIn https://www.linkedin.com/company/fixed-floating | X https://twitter.com/FixedFloating Fixed + Floating is for informational purposes only. Not investment, legal, or tax advice.Recorded: 11.08.2026#fixedfloating #creditmarkets #assetbasedfinance #privatecredit #gpufinancing #datacenters #aiinfrastructure
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Who Pays for the GPUs? How Lenders Underwrite AI Infrastructure | Ankur Patel (Ares)
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