Data Center-Tied Debt Slides as OpenAI Report Fuels Angst
Electrical wiring cables at a data center.
Photographer: Nathan Laine/BloombergUS corporate debt linked to data-center firms fell Tuesday as fears that the AI borrowing boom won’t pay off were reignited by a report that OpenAI missed internal user and sales targets.
Oracle Corp. securities have been a bellwether for investor sentiment on data centers, and its investment-grade bonds widened across the curve while a key measure of its credit risk rose sharply. Notes from SoftBank Group Corp., which is seeking a $10 billion loan backed by OpenAI shares, and cloud infrastructure firm CoreWeave Inc. were among the biggest decliners in the high-yield market.