Nvidia-Linked AI Project Seeks $4.54 Billion In Junk Debt

A data center developer is seeking $4.54 billion in junk debt for an AI project expected to be leased by Nvidia. The offering, led by JPMorgan, includes five-year notes with initial pricing in the high 6% range. This follows a previous $3.8 billion junk-bond sale for the same project, indicating strong demand for AI-related financing. The funds will help construct a 200-megawatt data center in Nevada. Companies linked to AI data center expansion have raised over $22 billion in high-yield debt this year, reflecting ongoing investor interest in AI infrastructure.