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Citigroup has created a new banking group to target AI infrastructure deals, expecting nearly $3 trillion in funding will be required by 2030 for data-center and power buildouts. The team includes investment and corporate bankers, aiming to manage large-scale projects involving project finance, syndicated loans, and bond issuance.

The group will coordinate efforts across technology, communications, energy, real estate, and crypto sectors to support the power demands of AI. Key leaders include Ric Spencer and Ashish Agrawal. The memo indicates a shift in financing from equity to debt for data center projects during this build-out period.