Related Digital nears $16 billion financing for Oracle data center: Report

Data center developer Related Digital is ​closing in on $16 ​billion of financing for a giant ​Oracle data center following months of negotiations with investors, Bloomberg News reported on Wednesday.

Related Digital has been ‌rounding up ⁠cash ⁠to build a campus in Michigan's Saline Township that would ​allow Oracle to power applications for OpenAI, according to the report. ​The financing is expected to be finalized as soon as this month.

Big Tech companies have ​been pouring billions into building AI ⁠infrastructure, driven ‌by the pursuit of technology capable ​of ​matching or surpassing human intelligence.


Blackstone's ⁠equity contribution is projected to be lower than ​expected at nearly $2 billion, amounting to ​about half of what was initially under consideration, the report said.

Bank of America is leading an additional $14 billion indebt financing that was originally intended as a construction loan but is ‌now expected to be structured as a bond offering, according to Bloomberg.

Related ​Digital, Oracle, ​Blackstone and BofA ⁠did notimmediately respond to Reuters' requests for comment. OpenAI, Oracle and Related Digital in October announced that ​they are building a data center campus of more than 1 gigawatt in Saline Township as part of their Stargate push to expand U.S. AI infrastructure capacity.