Core Scientific (CORZ) is planning to raise $3.3 billion through a junk bond sale as it pivots from bitcoin mining to artificial intelligence-focused data center operations. The company is constructing six AI data centers that will be leased to CoreWeave for a period of 12 years, with projected revenues of approximately $10 billion. This bond issuance is part of a broader trend, with borrowers in AI infrastructure raising $17.9 billion in junk bonds this year alone. Core Scientific, which emerged from Chapter 11 bankruptcy in January 2024, is capitalizing on its existing infrastructure to meet the surging demand for AI services. The company sold $175 million in bitcoin last month to support its transition and plans to use the bond proceeds to repay existing debt and fund construction costs. As the AI sector grows, Core Scientific's shift highlights the changing landscape of data center operations, attracting major tech players like Microsoft and Google.