AI Miners Jump Pre-Market on Record $38B Oracle Data Center Financing

AI and High-Performance Computing (HPC) mining stocks are rallying in pre-market trading after news of the largest AI infrastructure financing ever, according to Bloomberg.

Cipher Mining (CIFR) and IREN (IREN) are up 7%, while Bitfarms (BITF) surged 12%, as investors rotate back into AI-focused assets following a recent correction. The rebound follows plans by banks to raise $38 billion in debt to fund two major Oracle Corp (ORCL) data centers—marking the largest financing in AI infrastructure to date.

The debt is structured as 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 for Oracle’s partnership with OpenAI under the Stargate initiative.

The loans have a four-year maturity with two one-year extensions and are expected to price roughly 2.5% above the benchmark. Oracle’s broader AI strategy includes up to $500 billion in infrastructure investment, highlighting its ambitions in cloud computing and artificial intelligence.