Topic
The methods used to fund data center construction and operations, including equity, delayed-draw debt, vendor financing, and GPU-backed lending.
Princeton Digital Group is seeking up to $1.2 billion through five banks for a 198.8MW Johor campus and to refinance debt, Bloomberg reported. With Indonesia's $856 million, a full-size loan would bring it to about $2.06 billion of a $5 billion debt target.
Reality
JERA will feed a 400-megawatt AI data center costing more than $15 billion directly from its Chiba gas plant, with Apollo lined up to finance it. A 15-to-25-year supply contract gives JERA a long-dated buyer while the developer and its backer carry the construction bill.
Perspective Coverage
4 publishersReality
Michael Burry swapped his Micron and Nebius shorts for put options expiring in June and September 2027, with Micron strikes near $500. His AI-bubble call now has a deadline and price levels that chip-stock holders can measure their own positions against.
Reality
The Fed's first increase since July 2023 was 25 basis points. Korea's five-year AA- corporate yields are up 110 basis points this year, and the share of new paper maturing inside three years jumped from 24.7% in August.
Reality
Zenith Arc sold $2.25 billion of green bonds in Oklahoma on the strength of a long-term lease to the quantitative trading firm Jane Street. Bondholders are pricing one tenant's rent as the cash flow.
Reality
Japan's largest life insurer wants 2 trillion yen of project finance on the books by fiscal 2035, double last year's overseas total. The reason to lend dollars out of a yen book is a spread above two points.
Reality
Nscale's New York listing filing counts a $44.6 billion Anthropic agreement in a $103.4 billion contract book, and the filing says the company had not secured binding financing for it. First-half revenue was $140.6 million.
Reality
Michigan's package is $16.3bn anchored by PIMCO, Texas and Wisconsin about $38bn, New Mexico $18bn. Against a target of up to 10 gigawatts, the named money works out at roughly $7.2bn per gigawatt. The suppliers bill on megawatts energised.
Reality
Nscale's registration statement pairs $140.6 million of first-half revenue with a $1.02 billion net loss, and says the company holds no binding commitments for the financing its four Anthropic agreements oblige it to seek.
Reality