WhiteFiber closes $310 million of convertible notes, mostly for data center expansion and GPU servers

On 21 August 2026 WhiteFiber said it closed $310.0 million of 5.00% convertible senior notes due 2032, upsized from $250.0 million at launch. Net proceeds were about $298.5 million. About $118.5 million went to retire $198.15 million of its older 4.500% convertible notes, together with about 6.3 million ordinary shares. WhiteFiber said the rest is expected to be used mainly for data center expansion, including more sites, construction, power agreements and GPU servers for its cloud business. We file this because the release names data center expansion and GPU servers as the main use of the remaining money. AI appears only in the company description. How we read it: WhiteFiber has refinanced part of its debt and raised funds for its next phase at a 5.00% coupon. What would change this: the money being used mostly for debt or general purposes, or heavy dilution from conversion. Why it matters to you: it shows how smaller AI infrastructure builders pay for new capacity.