A major data center development company is on the verge of securing $16 billion in funding to construct an enormous Oracle facility, according to Bloomberg News reports released Wednesday.
Related Digital has spent recent months gathering the substantial financing needed to develop a sprawling campus in Saline Township, Michigan. The massive facility is designed to support Oracle’s computing applications for OpenAI, with funding arrangements expected to reach completion within the coming weeks.
The financing deal reflects the ongoing surge in artificial intelligence infrastructure investments, as major technology corporations allocate billions toward building systems capable of rivaling human cognitive abilities.
Investment giant Blackstone plans to contribute approximately $2 billion in equity funding, representing roughly half of what was originally considered for the project, according to the Bloomberg report.
Bank of America is spearheading an additional $14 billion in debt financing. While initially planned as construction lending, the funding package is now anticipated to take the form of a bond offering.
An Oracle representative expressed satisfaction with the project’s advancement, stating: “We are proud of the rapid progress that’s been made both in financing and developing our data center in Saline Township, Michigan.”
The company spokesperson confirmed that vertical construction has begun at the campus site, emphasizing that development remains on schedule and proceeding as planned.
Related Digital, Blackstone, and Bank of America did not provide immediate responses to requests for comment from Reuters.
The ambitious project stems from an October announcement by OpenAI, Oracle, and Related Digital regarding their collaboration to build a data center campus exceeding one gigawatt capacity in Saline Township. The initiative represents part of their broader Stargate effort to expand artificial intelligence infrastructure throughout the United States.
