Applied Digital Raises $2.15 Billion From Oracle-Tied Project

Applied Digital Corp. raised $2.15 billion in a junk-bond sale to fund additional computing capacity for Oracle Corp., showing demand for AI-related debt remains firm despite mounting uncertainty.

The bond sale, which was concluded earlier than previously expected, priced at the lower end of the marketed yield range, at about 7.23%. That’s in line with the average yield for B rated bonds, according to a Bloomberg index. Goldman Sachs Group Inc. led the offering.