EdgeConneX Inc., a data center operator backed by EQT, is seeking up to $2.5 billion in bank-backed power cost guarantees to support its global expansion. The company is in talks with several banks, including France's Natixis and Spain's BBVA, on a letter of credit facility that would help lock in electricity supply costs for data center projects. The move reflects how operators are adapting financing models as demand for AI training and inference accelerates data center construction worldwide. With power procurement costs rising and infrastructure spending climbing, companies are moving beyond traditional real estate and equipment financing toward structures tied to energy supply and long-term electricity contracts. Bloomberg said the shift also underscores a broader industry constraint: power availability has become a key bottleneck for expanding AI computing capacity, making bank support for future electricity costs an increasingly important funding tool.