[U.S. SEC Exempts AI Data Center ABS from Core Regulatory Requirements] According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has issued an internal letter exempting AI data center asset-backed securities (ABS) from core investor protection regulations implemented after the 2008 financial crisis, including risk retention provisions. The SEC has determined that data centers are non-financial assets, and their linked securities should not be subject to the same regulatory constraints as ABS tied to auto loans or mortgage-backed securities. The annual issuance scale of data center ABS has grown from $2.4 billion in 2020 to $15.5 billion in 2025.