US data-center securitization (ABS + CMBS): ~$26B in 2025 (~$15B ABS + ~$11B CMBS; JPMorgan counts about $27B); sell-side desks (JPMorgan) project $30–40B/yr gross in 2026–27; Morgan Stanley puts US net issuance 2026–28 near $130B, ~75% of it ABS
~$26B (ABS+CMBS) → $30–40B/yrforecast
| Value kind | forecast — Forecasts are time-bound outlooks, not specifications; test decisions across plausible scenarios. |
|---|---|
| Caveat | Data-center ABS plus CMBS combined, not GPU-backed ABS; gross (JPMorgan) and net (Morgan Stanley) figures are not additive. H1 2026 came in at $17B (JLL, +29% YoY), on pace for ~$34B, inside the range. Barclays puts outstanding data-center ABS+CMBS at $61B year-to-date 2026 (SFA, 2026-07-23). |
| As of | 2026-02 |
| Source | CREFC Data Center e-Primer (2026-02-25), citing J.P. Morgan and Morgan Stanley (Jan 2026); JPMorgan (Chong Sin) via Insurance Journal (2026-02-03); JLL North America Data Center Report Midyear 2026 · CREFC: ~$15B ABS + ~$11B CMBS in 2025; sell-side $30–40B/yr gross 2026–27; Morgan Stanley ~$130B US net 2026–28, ABS ~75%. Insurance Journal: JPMorgan $30–40B in 2026 and 2027, up from about $27B in 2025 |
| Review | checking…review by 2027-02-28 · fast cadence |
| Recorded changes | last 2026-10-19 · 3 revisions tracked |
| Claim id | data-center-abs-issuance-2025-2026-27-projected |
Where the guide uses it
Not quoted in a chapter yet; it is kept in the curated register.
← Full numbers register — every date-stamped figure in the guide, with revision history.