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NEWS ROUNDUP

FUNDRAISING: Core Scientific seeks $3.3 billion bond raise. Core Scientific is planning to raise $3.3 billion through a junk bond sale as it continues pivoting from Bitcoin mining toward AI data centers. Core Scientific is developing six large-scale data centers for AI workloads, with capacity leased to CoreWeave under a 12-year agreement that could generate $10 billion in revenue.

FINANCING: Switch secures $2.6 billion bank backing for data center growth. Switch has secured $2.6 billion in commitments from 11 banks through performance letter of credit facilities to help guarantee large upfront payments utilities increasingly require from data center developers before construction begins. Switch CFO Madonna Park said this kind of access to capital favors larger, established operators.

DEVELOPMENT: Fort Meade approves 20-year agreement for 1,300-acre campus. Fort Meade city commissioners unanimously approved a 20-year development agreement that allows Maryland-based Stonebridge to move forward with a proposed 1,300-acre data center campus despite strong public opposition. The project is planned to include eight buildings, with groundbreaking targeted by the end of this year and operations expected to begin in 2028.

WORKFORCE: Meta and CBRE launch LevelUp to train data center fiber technicians. Meta and CBRE have launched LevelUp, a nationwide training program aimed at preparing thousands of fiber technicians for work at Meta’s growing U.S. data center network. The initiative is designed to address a labor shortage as Meta accelerates construction and expansion across nearly 30 sites to support its AI infrastructure buildout.

READ: AI data center boom “stress tests” insurers as private capital floods in.

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20,890 SF | NOI: $813,208 | Leased Until 2043 | Absolute NNN Lease | Asking Price: $11.95M

26,172 SF | Leased to 1 Tenant | 16.9 Years Remaining on Current Lease | NOI: $1,018,827 | Asking Price: $14.98M

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