Galaxy Digital Sells Junk Bonds To Fund A.I. Data Centre Expansion
Galaxy Digital Sells Junk Bonds To Fund A.I. Data Centre Expansion.
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Galaxy Digital (NASDAQ: $GLXY) is planning to sell $3.5 billion U.S. of junk bonds to help fund the expansion of its Helios artificial intelligence (A.I.) data centre located in Texas.
The company plans to use the proceeds from its first junk bond sale to finance growth of the data centre campus located in Dickens County, Texas.
Galaxy Digital is the latest A.I. infrastructure developer to tap the U.S. high-yield debt market to fund A.I. infrastructure projects.
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Developers have already raised $28 billion U.S. through junk bond offerings this year, according to data from Bloomberg Markets.
Earlier in July, Galaxy Digital said that CoreWeave (NASDAQ: $CRWV) had signed a 15-year agreement to lease computing capacity at its Texas campus.
The CoreWeave contract is expected to generate more than $1 billion U.S. in annual revenue for Galaxy Digital.
The company has said that the first phase of the Helios project has already been completed. Construction on the next phase is expected to begin in 2027 as Galaxy expands the campus.
The Helios data centre campus has regulatory approval for up to 1.6 gigawatts of power dedicated to A.I. and high-performance computing.
GLXY stock has declined 20% over the last 12 months to trade at $24.79 U.S. per share.
Sinergia Empresarial continuará el seguimiento de esta información sobre galaxy Digital Sells Junk Bonds To Fund A.I. Data Centre Expansion y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
