Galaxy Digital Inc. is seeking about $3.5 billion through its first high-yield bond sale to fund a data center project tied to CoreWeave Inc., according to Bloomberg, which cited people familiar with the matter. The proposed deal points to how financing tied to artificial intelligence infrastructure is reaching deeper into riskier parts of the U.S. credit market.
The people said Galaxy Digital has been marketing the bond offering to investors at a yield of about 9%. Morgan Stanley and Goldman Sachs are serving as underwriters on the transaction, and pricing is expected on Thursday. Because the details have not been made public, the sources requested anonymity.
The planned issuance would mark a notable step for Galaxy Digital in tapping the high-yield market as demand for AI-linked infrastructure funding continues to draw large pools of capital.
Galaxy Digital Inc. is planning its first high-yield bond sale of about $3.5 billion to fund a data center project linked to CoreWeave Inc., Bloomberg reported, citing people familiar with the matter.
The deal shows how financing tied to artificial intelligence infrastructure is pushing the U.S. credit market further into higher-risk territory. The people said Galaxy Digital has been marketing the bonds to investors at a yield of about 9%.
Morgan Stanley and Goldman Sachs are underwriting the offering, which is expected to be priced on Thursday. The people asked not to be identified because the information has not been made public.
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