According to Bloomberg, Pimco has cut its holdings by about 50% in two AI data center financings: roughly $18 billion of Meta-related debt and the $10 billion Oracle Michigan campus deal. It sold about $3 billion of Meta's Beignet bonds while they traded above par, whereas Oracle's Michigan notes, issued at 98.7 cents, have slid to around 88 cents. Pimco still remains one of the largest holders of both financings. The firm has also passed on several major deals and has warned about lax underwriting in private credit, a market now above $1.8 trillion. The article suggests tougher pricing on data center loans could raise developers' borrowing costs.
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META
▼ Likely negativeMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.7T |
| Close on 10/28/2026 | 612.49 |
| Change that session | -1.24% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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