Galaxy Digital seeks $3.5 billion in debt financing to support data center projects

According to Bloomberg, informed sources revealed that Galaxy Digital Inc. plans to issue approximately $3.5 billion in high-yield bonds to fund data center projects related to CoreWeave Inc. This also means that financing for artificial intelligence infrastructure is further pushing the U.S. credit market into higher-risk areas.

Informed sources stated that Galaxy Digital is marketing this bond issuance to investors at an approximate yield of 9%. Morgan Stanley and Goldman Sachs are serving as underwriters for this issuance, which is expected to price on Thursday. Due to the sensitive nature of the information, the sources requested anonymity.