Blackstone Group IncBX
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Blackstone affiliates are acquiring interests in two joint ventures from Digital Realty, and Digital Realty is issuing shares to Blackstone as part of the deal.
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Artificial Intelligence▲ · 2 stocks
Blackstone Group Inc
Digital Realty Trust IncDLR
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Barclays PLCBARC
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Oracle CorporationORCL
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Nvidia, Google and Emerald AI Launch AI Energy Management Alliance
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▲3impact 4
CleanSpark Data Center Bond Draws $10 Billion in Orders for $2.28 Billion Sale
CleanSpark Inc.'s debut junk-bond offering for a data center tied to Meta Platforms Inc. drew orders of about $10 billion, more than four times the deal's size, according to people familiar with the matter. The five-year notes were set at almost $2.28 billion and launched at 98.5 cents on the dollar to yield 8.25%, roughly 1.75 percentage points above the average for BB rated firms tracked by Bloomberg. The fundraising, led by Morgan Stanley, will help finance construction of a data center in Sandersville, Georgia, that has been fully leased to Anviran LLC, a Meta subsidiary, under a $6.6 billion, 20-year contract. The facility is expected to begin operations in the fourth quarter of 2027, with Meta guaranteeing rent and operating expenses. Data center developers have now sold more than $3 billion of high-yield bonds so far this year, most backed by long-term leases with hyperscalers including Oracle Corp. and Amazon.com Inc.
2impact 4
SoftBank's SB Energy IPO Faces Investor Test as OpenAI Timeline Clouds $50 Billion Listing
SoftBank's push to list SB Energy at a valuation of roughly $50 billion is facing a tougher investor test as uncertainty around OpenAI's IPO timeline raises questions about how much of the data-center developer's future growth depends on a single customer. SB Energy is expected to seek between $5 billion and $7 billion in an IPO within the coming weeks. The company has yet to bring a single data center online, but already carries roughly $439 billion of contracted backlog tied largely to 8.8 gigawatts of future capacity, with roughly $357 billion of that contracted revenue not expected to be recognized until 2034 or later. SB Energy generated only $138.7 million of revenue during the first half of this year, primarily from legacy solar operations, and posted a $551.6 million operating loss. OpenAI is the primary tenant for SB Energy's largest pipeline projects, while Nvidia has provided a $105 billion guarantee for the initial phase of an 8-gigawatt Ohio data-center campus, and both OpenAI and Nvidia are expected to own stakes in the publicly listed company. SB Energy estimates it needs more than $170 billion in capital spending to build its pipeline, and analysts cited in the report estimate it may need another $7 billion of equity beyond IPO proceeds, in addition to substantial debt, just to maintain its typical 10% equity contribution to projects.