AI Miners Rally Pre-Market on Record $38B Oracle Data Center Financing
AI and High-Performance Computing (HPC) mining stocks surged in pre-market trading after news of the largest AI infrastructure financing to date, according to Bloomberg.
Cipher Mining (CIFR) and IREN (IREN) rose 7%, while Bitfarms (BITF) jumped 12%, as investors returned to AI-focused assets following a recent correction. The rally comes as banks prepare a $38 billion debt package to fund two major Oracle Corp (ORCL) data centers—the biggest financing ever for AI infrastructure.
The financing is split into two senior secured credit facilities: $23.25 billion for a Texas site and $14.75 billion for a Wisconsin facility, both developed by Vantage Data Centers under Oracle’s Stargate initiative in partnership with OpenAI.
The loans carry a four-year maturity with two one-year extensions and are expected to price about 2.5% above the benchmark. Oracle’s broader AI strategy could see up to $500 billion invested in infrastructure, underlining its ambitions in cloud computing and artificial intelligence.
