According to Bloomberg, artificial intelligence (AI) and high-performance computing (HPC) mining stocks are rising premarket following news of the largest AI infrastructure financing ever recorded.
Cipher Mining (CIFR) and IREN (IREN) are up 7%, while Bitfarms (BITF) is up 12%, as investors return to AI-exposed assets after a recent correction. The rally comes as banks prepare a $38 billion debt sale to finance two major data centers linked to Oracle Corp (ORCL), in what would be the largest financing ever for AI infrastructure.
The debt is divided into two senior secured credit facilities: $23.25 billion for a project in Texas and $14.75 billion for a site in Wisconsin, both developed by Vantage Data Centers for Oracle’s partnership with OpenAI under the Stargate initiative.
The loans will mature in four years, with two one-year extension options, and are expected to be priced around 2.5 points above the benchmark, according to the article.
Oracle’s broader plan includes up to $500 billion in investment in AI infrastructure, underscoring its ambitions in cloud computing and artificial intelligence.
