Core Scientific’s $3.3 Billion Deal Fuels AI Junk-Bond Wave

Core Scientific Inc. is looking to raise $3.3 billion from a junk-bond sale, joining a wave of high-yield issuers tapping debt markets to fund artificial intelligence infrastructure.

The firm is developing six data center facilities that have been fully contracted with CoreWeave Inc. under a 12-year contract that could generate about $10 billion in revenue, a person with direct knowledge of the matter said.