Carmen Arroyo Nieto

BlackRock Inc.’s head of US capital markets Jackie Krese has left the company after four years, according to people familiar with the matter.

Just this month, Meta Platforms Inc. has secured about $60 billion in capital to build data centers, part of its spending to get ahead in the artificial intelligence race. Half of that won’t show up on the social media giant’s balance sheet as debt.

Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Carmen Arroyo reports on one of the little-known beneficiaries of the AI boom.

JPMorgan Chase & Co., Fifth Third Bancorp and Barclays Plc are among banks bracing for potentially hundreds of millions of dollars in combined losses from loans tied to subprime auto lender Tricolor Holdings, according to people with knowledge of the matter.

Beach Point Capital Management hired Joshua Baumgarten, a credit veteran who previously worked at TPG Angelo Gordon and Blackstone Inc., as its president and chief investment officer.

A vending-machine venture that once touted juicy, super-safe returns is now the target of federal prosecutors and a tangle of lawsuits by angry investors who say they were duped.

Private credit lender Castlelake LP is debuting an aviation lending platform that already holds more than $1.8 billion of capital and is tapping Patrick Mahoney to lead it.

KKR & Co. gathered about $6.5 billion of capital to invest in asset-backed finance, marking the firm’s largest credit fundraise to date.

Elon Musk’s artificial intelligence startup xAI is in talks to raise $4.3 billion through an equity investment on top of the $5 billion it has recently been trying to borrow from debt investors, according to information the company shared with investors who asked not to be identified because it is private.

Nearly a century after opening Harry’s Bar in Venice, Cipriani is betting big on its next chapter: turning to private credit for a $190 million loan to fund global growth.