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JPMorgan and Goldman Sachs reportedly limited their exposure to a $5bn loan sale for AI startup Volta, underwriting just $1.3bn of the deal, Bloomberg reports, citing sources. The loan sale is expected to yield about 11%.
Why it mattersThe banks’ reported move leaves them underwriting only part of the sale, rather than the full amount. That is a useful detail in a large AI financing deal, though it does not by itself show why the banks chose to limit their exposure or signal trouble for Volta.
Discuss: Does limiting the banks’ underwriting stake look like sensible risk-sharing on a large AI loan, or a warning sign about the deal?
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