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Investment Banker·Data Centers

Scott Wilcoxen

Head of Digital Infrastructure Investment Banking at J.P. Morgan

New York, NY, USA

SW
LinkedIn
Why they matter

He leads J.P. Morgan's digital infrastructure banking group, the desk structuring many of the largest data-center capital stacks in the current AI buildout.

Background

Scott Wilcoxen is the global head of Digital Infrastructure Investment Banking at J.P. Morgan, covering data centers, fiber, and towers financing for hyperscalers, colocation operators, and private capital sponsors. He came up through Barclays Capital and earlier technology/program-management consulting before building out JPMorgan's digital infrastructure banking franchise, which he now leads as the AI-driven data center capital cycle has scaled into a multi-trillion-dollar market.

Notable deals

  • 2025
    Co-hosted J.P. Morgan's 'Making Sense' podcast episode 'The data center surge: Building the backbone of the digital age,' laying out how the bank assembles capital across the full stack (senior debt, junior debt, structured and preferred equity) for gigawatt-scale AI data center campuses projected to require over $1 trillion of investment by 2030

Call-prep brief

Background

  • Global head of Digital Infrastructure Investment Banking at J.P. Morgan, New York.
  • Career built entirely around covering data centers, fiber, and towers; prior stop at Barclays Capital plus earlier tech/program-management consulting.

Current Focus

  • Financing the AI-driven data center buildout: JPMorgan pegs total capex needs at $1T+ for data centers alone by 2030, and over $5T once power generation is included.
  • Positions J.P. Morgan as a full-capital-stack provider — senior/junior debt, structured and preferred equity, common equity — for gigawatt-scale campuses that now run $10B+ per asset.

What He Cares About

  • "Time to power": grid interconnection and electrical capacity, not construction, is framed as the binding constraint on new supply.
  • Risk of overbuilding/market saturation as capital floods into the sector.
  • Multi-region, multi-pocket capital formation (institutional debt, infra funds, sovereign wealth, private credit).

Recent Market Context

  • J.P. Morgan's digital infrastructure franchise has been active in the largest data-center financings of 2025–2026, a period marked by JPMorgan-led debt packages tied to hyperscale campuses in Texas and elsewhere (verify current deal specifics directly with him — not independently confirmed to the individual banker level from public sources).

Sensitivities

  • As a bank MD, he won't discuss live client mandates or unannounced financings — keep questions structural/market-level rather than deal-specific unless he raises it.

Questions to Ask

  1. Where is "time to power" actually killing deals right now, and which markets/utilities are best (or worst) positioned to solve it?
  2. How is J.P. Morgan underwriting overbuild risk when sizing multi-billion-dollar campus financings?
  3. Which capital sources (private credit, infra funds, sovereign wealth) are filling the gap as traditional bank balance sheets hit single-asset concentration limits?

Outreach draft

Subject
Quick call on data center financing landscape
Hi Scott, I enjoyed your recent J.P. Morgan podcast conversation on the data center capital surge, particularly your framing of "time to power" as the industry's real constraint. I'm working with a private equity deal team evaluating opportunities in data center colocation and would value 20 minutes of your perspective on how capital stacks for gigawatt-scale campuses are being structured today, and where you see the financing bottlenecks heading into 2027. Would you have time for a short call in the next few weeks? Happy to work around your schedule. Best, [Placeholder Name]

Sources

Strongest evidenceName + firm2 public sourcesVerified2026-08-10How the grades work