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According to Jinse Finance, digital asset provider Galaxy Digital Inc. announced today that it has completed a $1.4 billion project financing (“debt financing”) to support the ongoing development of its Helios data center campus. Under a long-term agreement with CoreWeave Inc., this debt financing will fully fund the initial renovation and expansion of Helios, providing first-phase power support for AI and high-performance computing (HPC) operations. Galaxy has already provided $350 million in equity financing, with the remaining construction costs to be covered by the debt financing. This $1.4 billion debt financing is secured at an 80% loan-to-cost ratio, has a term of 36 months, and is collateralized by all assets related to the first phase of Helios construction.

According to a report by Jinse Finance, a Reuters survey shows that out of 110 economists, 68 believe the Federal Reserve will cut interest rates one to two times this year, compared to 69 out of 105 in the July survey. Additionally, 67 out of 110 economists expect the Fed to lower rates to 4.0%–4.25% in September, whereas in July, 56 out of 105 held this view.