Core Scientific Taps High-Yield Market for $3.3 Billion AI Infrastructure Push

Core Scientific Inc. is moving to raise $3.3 billion through a junk-bond issuance, joining a broader wave of high-yield issuers leveraging debt markets to fund the rapid expansion of artificial intelligence infrastructure. The company is currently developing six data center facilities designed to support AI workloads. These facilities are already fully contracted under a 12-year agreement with CoreWeave Inc., a move that provides a stable long-term revenue stream for the project. According to sources familiar with the matter, the contract with CoreWeave could generate approximately $10 billion in total revenue over the life of the agreement. This strategic pivot underscores the massive capital requirements associated with the current AI arms race. From a market perspective, this issuance signals strong investor appetite for AI-linked credit, even within the high-yield sector. It highlights a trend where infrastructure providers are aggressively scaling capacity to meet the compute demands of AI developers.