Nvidia-Tied Debt Deal Turbocharges a 30,000-Acre Data Center Bet

When JPMorgan Chase & Co. hit the market to sell $3.8 billion worth of junk bonds for the construction of a data center backed by Nvidia Corp., investors piled in, placing some $14 billion of orders by the time the sale wrapped up.

Never mind that few of them had much experience dealing with the company now responsible for bringing that data center to life: Tract Capital.