Stonebriar and Wingspire turn AI computing demand into asset-backed bonds

The AI boom needs chips, servers and data centers. Someone has to lend the money for all of that hardware, and Wall Street has found a familiar way to repackage those loans. Demand for AI capital is lifting interest in bonds backed by equipment loans and leases, Bloomberg reports. Two lenders, Stonebriar Commercial Finance and Wingspire Equipment Finance, sit near the center of that trend. Wingspire’s biggest deal yet Wingspire, a Blue Owl Capital portfolio company, closed a $407.07 million asset-backed security, labeled WEF 2026-1, on September 24, 2026. It is the firm’s largest such deal to date. Wingspire’s basket holds a collateral pool valued at $438.18 million. That pool spans 211 contracts across 63 obligors, the borrowers on the hook for making payments. The deal was more than 5x oversubscribed, meaning buyers wanted several times the amount of bonds actually on offer. It also earned AAA ratings from Fitch and KBRA. Approximately 18% of the collateral is tied to financing for AI technology. A fast-growing lender, and an established one Wingspire’s securitization program has scaled quickly. The firm closed a $201 million deal in 2024, then one of more than $292 million in 20...