Hut 8 Readies High-Grade Bond Sale for Google-Backed Data Center

Hut 8 Corp. is considering tapping the investment-grade debt market to fund construction of a data center linked to Alphabet Inc.’s Google, adding to a wave of borrowing driven by the artificial intelligence boom.

A firm’s subsidiary is planning to sell at least $3 billion of high-grade bonds to finance a 245-megawatt facility in St. Francisville, Louisiana, according to people with direct knowledge of the matter. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley have been hired to arrange investor calls and could bring the deal to market in the next few days, the people said, asking not to be identified while discussing private information.