In this week’s episode of The TreppWire Podcast, we break down the latest inflation and jobs data, what it could mean for the Fed, and why long-term Treasury yields and CRE borrowing costs may remain elevated. We also dig into the extraordinary scale of the AI capital boom, from surging hyperscaler bond issuance to Nvidia’s $500 billion financing initiative, new compute futures, and growing questions around credit and the pace of the AI buildout. In CRE, we discuss AI’s growing footprint in San Francisco office, a new contrarian fund betting on the office sector’s recovery, major multifamily and data center deals, and moves across retail and lodging. Plus, we examine Trepp data showing signs of relief in Florida multifamily insurance costs after years of sharp increases, and what that means for underwriting going forward. Tune in now. Episode notes: Macro Update (00:00) AI Economy (9:15) Hyperscaler Data Center Trends (11:48) Compute Trading Evolution (18:56) Florida Insurance Data (26:24) Office Transactions (34:51) Multifamily &amp; Data Center Deals (42:31) Retail &amp; Lodging Stories (49:15) Programming Notes &amp; Shoutouts (55:39) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

414. The AI Capital Boom, Stubborn Treasury Yields, Office Bets, & Insurance Relief

The TreppWire Podcast: A Commercial Real Estate Show

Welcome to the TreppWire Podcast, the show where commercial real estate meets data and insights. This is our week in review for the week ending August 14th, 2026. I'm Haley Keen with Trepp, a data modeling and analytics firm for the CMBS, commercial real estate and CLO markets. I'm with Lonnie Hendry, Chief Product Officer, and Stephen Bushbaum, Head of Applied Research and Analytics.

Inflation was once again front and center this week, and the July Consumer Price Index landed almost exactly where economists expected. Headline CPI increased 0.1% during July and 3.4% from a year earlier, while core inflation increased 0.2% for the month and 2.5% year-over-year.

That inflation theme also ties directly into our data point of the week. Later in the episode, we will examine how property insurance costs have changed for securitized multifamily properties since 2020, including how Florida compared with the rest of the country during the sharp run-up in premiums, and why the most recent results suggest that the trajectory may be changing, even as owners continue to operate from a significantly higher cost base.

Equities and treasuries initially rallied following the CPI report, but not because inflation is back at the Fed's target. Investors have been bracing for something hotter, so the collective exhale when CPI printed in line with expectations gave markets a lift. AI-related stocks also supplied much of the lift in equities. CoreWeave, Neveus, and Supermicro all posted substantial gains during their earnings reports.

While NVIDIA traded higher after announcing partnerships with several major investment firms to establish AI infrastructure financing programs targeting more than $500 billion of third-party capital. Stephen, we have a lot to cover this week, as usual, but when we combine the latest inflation report with last Friday's surprisingly weak jobs number, what is the market...

414. The AI Capital Boom, Stubborn Treasury Yields, Office Bets, & Insurance Relief

Read the full transcript

The candid version is on a podcast,
not the earnings call.

414. The AI Capital Boom, Stubborn Treasury Yields, Office Bets, & Insurance Relief

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.