Nvidia-tied debt deal turbocharges bet on construction of a data center bigger than San Francisco
Tract Capital, a data center land developer, secured $3.8 billion in junk bonds, backed by Nvidia, to fund the construction of a data center in Nevada. The company aims to develop vast tracts of land with pre-secured power access for future data centers across the US. This move highlights the intense competition for powered land and energy resources in the booming AI infrastructure market.
Tract Capital, a four-year-old land-development company founded by data center veteran Grant van Rooyen, has successfully raised $3.8 billion through a junk bond sale orchestrated by JPMorgan Chase & Co. The debt deal, which saw $14 billion in orders, is backed by Nvidia and aims to finance the construction of a data center in Nevada.
Tract Capital specializes in acquiring and preparing