HSBC Chief Executive Georges Elhedary said artificial intelligence is transforming how businesses operate and is a key area banks must invest in going forward. He said AI can boost productivity, enabling banks to allocate more resources to customer service and internal process transformation, and that HSBC is accelerating the integration of related tools into its business.

However, he remained cautious about infrastructure financing around AI. Elhedary said not every data center project is suited to rapid capital expansion, adding that investors need to assess whether lease contracts are stable, pricing is reasonable, and cash flows can service debt. Some projects have weak contract quality, and if demand fluctuates or costs rise, financing can become significantly harder.

HSBC is itself involved in data center financing and related operations. The bank has assets of close to $3 trillion and was ranked last year by S&P Global as the world's seventh-largest bank and Europe's largest lender. In its 2025 annual report, HSBC said it aims to be one of the leading banks in the transition ecosystem, with clients spanning data centers and the AI value chain.

Data center construction has attracted substantial funding in recent years. McKinsey expects global data center spending to reach $7 trillion by 2030. Meanwhile, large technology companies are increasingly relying on private credit and debt financing to support expansion. As funding costs rise and companies borrow more for AI projects, markets are beginning to focus on associated credit risks.