Overview
- Related Digital said it secured $16 billion to build a Saline Township data center campus for Oracle, with construction underway and delivery on schedule pending standard closing conditions.
- The funding combines equity from Related Digital and Blackstone with long‑term, fixed‑rate debt anchored by funds managed by PIMCO.
- Bloomberg reported that Bank of America sold about $14 billion of project bonds in a private sale to large investors, with PIMCO purchasing roughly $10 billion of the notes.
- The campus will house three single‑story buildings with more than 1 gigawatt of capacity for Oracle’s work with OpenAI, use a closed‑loop cooling system, and seek LEED certification.
- DTE Energy will supply power supported by a new Oracle‑financed battery system that the developer says will lower existing customers’ costs by $300 million, while the project promises thousands of jobs and new tax revenue as local residents voice concerns about grid strain and pollution.