JPMorgan Chase is nearing a $22 billion financing agreement with Mitsubishi UFJ Financial Group for a data center in Texas.

According to reports, JPMorgan Chase and Japan's Mitsubishi UFJ Financial Group are reportedly negotiating to underwrite a $22 billion loan for a data center in Texas. The report states that the park in the plan will be owned by Vantage Data Centers, a digital infrastructure company owned by Silver Lake Capital and asset management company DigitalBridge. The report also notes that Silver Lake Capital and DigitalBridge will collectively commit $3 billion in equity to support the construction of the data center park.