Nvidia-Tied Data Center Raises $4.59 Billion From Junk-Bond Sale

A Nevada data center project tied to Nvidia Corp. has raised $4.59 billion from a junk-bond sale, adding to a wave of deals to fund artificial intelligence infrastructure.

An entity backed by asset manager Tract Capital Management LP and Fleet Data Centers I LP sold the five-year notes at 99 cents on the dollar to yield 6.74%, according to a person with direct knowledge of the matter.

That’s the second time the developers have raised funds for the project — a 200-megawatt data center and substation in Storey County, Nevada, expected to be leased to Nvidia. In February, it priced ...