JPMorgan Chase (JPM) and Mitsubishi UFJ Financial Group (MUFG) are among the banks leading a $38 billion debt offering as soon as Monday for data center projects in Texas and Wisconsin, Bloomberg reported Friday, citing sources familiar with the matter.

Financing will come in two separate senior secured credit facilities, a $23.25 billion facility for the data center in Texas and $14.75 billion for the project in Wisconsin, the report said. Wells Fargo (WFC) and Goldman Sachs Group (GS) are also participating in the financing, the sources added.

The two projects are being developed by Vantage Data Centers and will be used by Oracle (ORCL) to power OpenAI, according to Bloomberg.

OpenAI, Oracle, and Vantage Data Centers announced Wednesday plans to develop a data center campus in Wisconsin, with construction to begin "soon" and targeted for completion in 2028.

OpenAI, Oracle, Vantage Data Centers, JPMorgan Chase, and Mitsubishi UFJ Financial Group did not immediately respond to MT Newswires' requests for comments.

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