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Related Digital Secures Financing for $16 Billion Oracle Data Center in Michigan
The campus will add more than 1 gigawatt of capacity and is expected to create 2,500 union construction jobs, the companies said.
- On Friday, Related Digital and Blackstone announced they secured $16 billion in financing for a data center campus in Saline Township, Michigan, purpose-built for Oracle.
- Bank of America sold $14 billion in bonds to anchor the debt, while Blackstone contributed approximately $2 billion in equity, with PIMCO-managed funds securing long-term debt financing.
- DTE Energy expects $300 million in customer savings, while the project simultaneously creates 2,500+ union construction jobs and 450+ onsite positions.
- Nadeem Meghji, Global Head of Blackstone Real Estate, noted 'demand for digital infrastructure continues at a breathtaking pace,' driven by AI and broader digitalization.
- Alphabet, Amazon, and Meta plan to collectively invest about $650 billion in AI infrastructure this year, contextualizing the campus's LEED certification pursuit and 750+ acres of open space preservation.
25 Articles
25 Articles
A massive Oracle data center planned for rural Michigan secures $16 billion in funding
A digital rendering of the huge 1-gigawatt data center campus planned for Saline, Michigan, which will serve Oracle's AI business.Courtest of Related DigitalThe developer of a huge one-gigawatt data center says it has secured $16 billion in funding.The data center in rural Michigan will serve Oracle's AI business.Local residents have protested the data center, fearing grid impact and pollution.As far as data centers go, it's a big one.The Saline…
Oracle's $16.3B data centre financing required PIMCO to anchor $10B after US banks retreated
In short: Oracle closed a $16.3 billion financing for a single data centre campus in Saline Township, Michigan, the largest single-facility technology debt package ever assembled. PIMCO anchored roughly $10 billion of the bond tranche because US banks retreated from the deal, citing doubts about AI infrastructure demand sustainability. The financing is part of $72 […] This story continues at The Next Web
A $16B financing for a giant Oracle data center in Michigan has closed, with BofA selling $14B in bonds; Oracle plans to use the campus to power apps for OpenAI (Bloomberg)
Bloomberg: A $16B financing for a giant Oracle data center in Michigan has closed, with BofA selling $14B in bonds; Oracle plans to use the campus to power apps for OpenAI — A $16 billion financing for a giant Oracle Corp. data center in Michigan has wrapped after months of stop-and-start…
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Related Digital Announces Financing for $16 Billion Oracle Data Center Project in Saline Township, Michigan
Related Digital and Funds Affiliated with Blackstone Commit Equity to Fund Project; Fixed Rate, Long-Term Debt Financing Anchored by PIMCO-Managed Funds and Accounts
Oracle has closed a $16 billion funding to build its largest AI data center in Michigan, as Bloomberg said. The operation puts a concrete figure on the infrastructure race that sustains the AI business. Keys to the operation More specific funding of a data center in the U.S. The 16 billion package loosely exceeds comparable operations signed by hyperscalers in the last two years. Oracle tightens the pace in front of AWS, Azure and Google Cloud. …
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