USD money market funds from Vanguard pay about 3.7% now. Personally, I would recommend a 50/50 split between a Bloomberg Agg bond ETF and a high-yield bond ETF. You can easily boost that yield by 100bps with a modest increase in risk.
Another thing overlooked in this debate: Data center costs normally increase at the rate of inflation. This is not included in most estimates. That said, I still agree with the broad sentiment here: 400K USD is plenty of money to run a colo server for 10+ years from the risk-free interest rate.