Gate News message, April 17 — Google-backed data center projects and cloud infrastructure company CoreWeave raised a combined $6.7 billion in high-yield debt in recent transactions, with a record $5.7 billion issue led by Morgan Stanley pricing on Thursday.
The Google-related transaction, which received $19 billion in investor orders, will finance two data centers in a Sullivan County, Indiana park. These facilities will be leased to cloud computing startup Fluidstack Ltd., with Alphabet’s Google providing a guarantee. Morgan Stanley’s $5.7 billion deal marks the largest AI-related high-yield bond issuance in the U.S. dollar market and the largest single-bank-led high-yield offering, priced at 6.25% yield, at the lower end of the price discussion range.
Meanwhile, CoreWeave sold an additional $1 billion in 2031-maturity bonds just one week after its initial offering, capitalizing on sustained investor demand for AI-related transactions amid broader market recovery.
The financing rush reflects acute shortages in data center capacity, GPU chips, and power supplies driven by AI’s rapid expansion. Companies are tapping every corner of the debt market, from high-yield bonds to project financing. Morgan Stanley’s previous record for a single-bank-led high-yield issuance was $3.2 billion for crypto miner TeraWulf Inc. last year, also backed by Google’s guarantee.
Fluidstack, which builds and operates high-performance computing infrastructure for data centers, recently announced a $50 billion deal with Anthropic to construct custom data centers for the large language model maker. The company has also expanded its use of a TeraWulf-operated New York data center, with Google increasing its guarantee to TeraWulf to $3.2 billion and raising its equity stake to approximately 14%.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
NiSource Inks Long-Term Power Deal with Google, Deepens Amazon Energy Partnership via GenCo Model
NiSource has partnered with Google and Amazon to provide long-term power for a new Indiana data center, launching a "GenCo" model to balance energy demands without raising consumer costs. This partnership is expected to yield substantial savings for residents and underscores Indiana's growing role in tech energy resources.
GateNews3m ago
Manycore Tech Raises $156M in Hong Kong IPO, Pivots Toward AI and Robotics Services
Manycore Tech raised $156 million in its Hong Kong IPO, shifting focus from home renovation to AI and robotics services using proprietary 3D design data. Despite an 8.6% revenue increase, it remains loss-making, reflecting investor interest in specialized design software.
GateNews14m ago
Nvidia's Quantum Computing AI Product Drives 50%+ Stock Surge in IonQ and D-Wave
Nvidia's new AI product suite, Ising, launched on April 14, enhances quantum error correction, boosting speed by 2.5 times and accuracy by three times. This announcement spurred a significant rise in quantum computing stocks, indicating strong market interest, even amid volatility.
GateNews30m ago
Philippine Digital Bank GoTyme Launches In-App Stock Trading Feature
GoTyme Bank has introduced an in-app stock trading feature, allowing users to invest in the Philippine Stock Exchange directly from their banking app. This service, in partnership with DragonFi Securities, aims to simplify investment for new and existing customers.
GateNews32m ago
Wipro's Q4 Revenue Misses Estimates as Clients Cut Tech Spending
Wipro reported Q4 revenue of 242.4 billion rupees, a 7.7% increase but below expectations. The decline reflects decreased tech spending from clients, particularly Estee Lauder, and a broader trend in the Indian IT sector towards specialized hiring amid AI adoption.
GateNews33m ago
