On August 20, Goldman Sachs is testing investor demand for an approximately $1.15 billion junk bond issuance, with proceeds intended for the construction of a data center leased to AI cloud computing company CoreWeave. According to insiders, the project is located near Richmond, Virginia, and is being developed by PowerHouse Data Centers, a subsidiary of American Real Estate Partners, in collaboration with Chirisa Technology Parks. The bond is expected to enter the market as early as September. This financing comes as investors are becoming more cautious about debt related to AI infrastructure. With an increase in bond issuances tied to AI data centers this year, the market has begun to demand higher yields. CoreWeave has previously supported the high-yield bond issuances of numerous data center developers through long-term lease agreements, but its speculative-grade credit rating has also raised financing costs.
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Goldman Sachs Prepares $1.15 Billion Junk Bond to Finance AI Data Center for CoreWeave
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