As AI Companies Borrow Billions, Debt Investors Grow Wary
While stock investors have pushed AI-related shares to repeated highs this year, debt markets are telling a more cautious story as newer AI infrastructure companies find themselves paying significantly elevated interest rates to borrow money. Applied Digital, a data center builder, sold $2.35 billion of debt in November at a 9.25% coupon – roughly 3.75% above … ⌘ Read more