英伟达(NVDA.US)16年长租协议助推数据中心债券发行，AI基础设施借贷热潮转向“垃圾债”市场

Group 1 - Nvidia (NVDA.US) plans to lease a data center funded by $3.8 billion in junk bonds, intensifying the borrowing frenzy around AI infrastructure [1] - A Tract Capital-backed entity will issue bonds to finance part of a 200 MW data center and substation in Story County, Nevada [1] - The bond offering was increased by $150 million, indicating strong market demand, with expected yields around 6% [1] Group 2 - Data center developers have been leveraging the high-yield bond market to fund new facilities, with recent examples including cryptocurrency miners Cipher Mining Inc. and TeraWulf Inc. [1] - Nvidia's initial lease is approximately 16 years, with two options to renew for 10 years each [1] - Tract Capital, managing about $6 billion in assets, launched the "Fleet" strategy to build new data centers for large enterprises, with Fleet I being the first fund [2] Group 3 - The bond proceeds will reduce equity contributions initially estimated at $620 million for the project [2] - The transaction is expected to be priced on Friday, with JPMorgan serving as the lead underwriter and Morgan Stanley as the co-manager [2] - Nvidia operates its own data centers while also leasing space from cloud service providers like Amazon AWS and Microsoft Azure to meet increasing computational demands for AI [2]