Hyperscale compute is layering leases, revenue rights and off-balance-sheet structures into a quietly mounting duration mismatch.
Hyperscale compute is layering leases, revenue rights and off-balance-sheet structures into a quietly mounting duration mismatch.
Over the past three years, leading compute operators have securitized rent, power and GPU contracts into stacked capital structures.
Our analysis suggests a meaningful share of the underlying assets carry liabilities of under five years against revenue streams beyond ten — an exposure that surfaces rapidly when rates rise.
The brief provides three stress-test templates for institutional allocators and the duration-mismatch indicators to monitor at the ABS and REIT layer.