Elk Grove Village Property LLC is seeking to raise $850 million through a junk-bond sale to finance a data center associated with CoreWeave Inc., marking a trend among high-yield issuers accessing debt markets to support AI infrastructure development. The planned data center, located in the Chicago metropolitan area, is fully leased to CoreWeave under a 15-year contract, which is expected to generate approximately $2.2 billion in revenue, with additional renewal options for CoreWeave extending the lease by up to 14 years.

CoreWeave Inc.: CoreWeave Inc. provides cloud computing services optimized for artificial intelligence workloads. The company has committed to a multi-year occupancy of a new dedicated data center in the Chicago metropolitan area. This arrangement supports its ongoing expansion of specialized computing infrastructure.
Elk Grove Village Property LLC: Elk Grove Village Property LLC develops hyperscale data centers on a build-to-suit basis. The company has secured a long-term lease for its Chicago-area facility with a major AI infrastructure operator. It is pursuing high-yield debt financing to advance the project amid broader industry demand for AI capacity.

Data Center Leasing Trends: Specialized facilities are being developed and fully leased to AI-focused operators under extended contracts with renewal options.
AI Infrastructure Financing: High-yield bond issuers are increasingly accessing debt markets to support development of data centers and related AI infrastructure.