Private credit is set to play a larger role in financing the infrastructure needed for artificial intelligence, according to a Bloomberg interview with Jean Boivin, head of the BlackRock Investment Institute.
Speaking to Bloomberg Television, Boivin said the scale of capital required for AI infrastructure means companies will need to borrow across a range of markets, creating a “big tailwind” for private credit.
The comments come amid rising demand for capital from technology companies as they fund data centres, energy infrastructure and other AI-related investment. Bloomberg Intelligence expects capital expenditure by the six largest US hyperscalers to reach nearly $820bn this year, up almost 80% from 2025 levels.
Boivin said the AI buildout should not be compared directly with the dotcom bubble or the 2008 financial crisis, describing the current transformation as unprecedented. However, he warned that the scale of investment could draw capital away from non-AI sectors of the economy.
Private credit markets have faced renewed scrutiny following redemption limits at funds managed by firms including Apollo Global Management and Ares Management. Boivin said larger companies with stronger balance sheets may offer safer lending opportunities, while smaller companies linked to AI could also create further opportunities for lenders.
