Artificial intelligence (AI) and high-performance computing (HPC) mining stocks are recovering pre-market following the announcement of the largest AI infrastructure funding on record, according to Bloomberg.
Cipher Mining (CIFR) and IREN (IREN) are both up 7%, while Bitfarms (BITF) jumped 12%, as investors turn their attention back to AI-exposed assets after a recent correction. The rebound comes as banks prepare a $38 billion debt sale to finance two large 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 as part of the Stargate initiative.
The loans will mature in four years, with two one-year extension options, and are expected to cost about 2.5% above the benchmark, according to the article.
Oracle’s broader plan includes up to $500 billion of investment in AI infrastructure, highlighting its ambitions in cloud computing and artificial intelligence.
