Below Par Is Good in Golf

Dirk Hanlon: bonds behind big AI data centres now trade below par. Gus: below par, that's good in golf. Dot: father, ninety-two cents means lenders doubt they'll be repaid; CoreWeave's, under eighty, yields near fifteen percent. Lorraine: Nvidia's boss says he's still optimistic, dear. Gus: then I'm optimistic. Fore!

Bonds that financed some of the biggest AI data centres now trade well below face value: debt behind the Hyperion project that Meta will occupy has fallen to 92 cents on the dollar, Project Excalibur's below 88 cents, and CoreWeave's below 80 cents with yields near 15%, because investors doubt that AI revenue will cover the borrowing; Nvidia's chief says he is still optimistic.

Starring

Dirk HanlonGus PeltDot PeltLorraine Pelt