Galaxy Digital is seeking $3.5 billion in debt financing to support its data center project

BlockBeats News, July 23rd - According to Bloomberg, sources revealed that Galaxy Digital Inc. is planning to issue approximately $3.5 billion in high-yield bonds to fund a data center project associated with CoreWeave Inc. This also signifies a further push of artificial intelligence infrastructure financing into riskier areas of the U.S. credit market.

Sources stated that Galaxy Digital is marketing this bond issuance to investors at around a 9% yield. Morgan Stanley and Goldman Sachs are acting as the underwriters for this offering, which is expected to price on Thursday. As the information has not been made public yet, the sources requested anonymity.