Bloomberg: A state grid audit, not investor demand for AI, is now the binding constraint on refinancing Anthropic’s Texas compute campus.

Morgan Stanley-led banks have shelved a $5B to $7B junk-bond sale tied to an Anthropic-leased Texas data center.

The pause follows Governor Greg Abbott’s freeze on approving new grid connections for data centers until Texas regulators finish an audit.

That leaves 7 banks holding a $14.2B one-year loan they have already disbursed, each with roughly $2B at stake.