A data center operator with ties to NVIDIA has raised $4.59 billion through a high-yield bond sale, one of the largest junk-rated debt raises in the AI infrastructure space. The capital is expected to fund GPU-dense data center construction to meet surging demand for AI compute capacity.
The deal underscores debt markets' willingness to fund AI infrastructure at below-investment-grade ratings — a trend that raises long-term leverage questions for enterprise buyers dependent on hyperscale capacity.