AI Miners Surge Pre-Market on Record $38B Oracle Data Center Deal
AI and High-Performance Computing (HPC) mining stocks are rallying in pre-market trading after the announcement of the largest AI infrastructure financing on record, according to Bloomberg.
Cipher Mining (CIFR) and IREN (IREN) climbed 7%, while Bitfarms (BITF) jumped 12%, as investors returned to AI-focused assets following a recent pullback. The boost comes as banks prepare a $38 billion debt package to fund two major data centers for Oracle Corp (ORCL)—the largest financing ever for AI infrastructure.
The debt is divided into two senior secured credit facilities: $23.25 billion for a Texas site and $14.75 billion for a Wisconsin facility, both developed by Vantage Data Centers under Oracle’s Stargate initiative with OpenAI.
The loans carry a four-year maturity with two one-year extensions and are expected to price about 2.5% above the benchmark. Oracle’s broader plan includes up to $500 billion in AI infrastructure investment, underscoring its growing ambitions in cloud computing and artificial intelligence.
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