Oracle Disputes FT Report, Says Michigan AI Data-Center JV Remains on Schedule

Overview

• Oracle called the Financial Times account incorrect and said final equity negotiations are proceeding on schedule, according to spokesman Michael Egbert.
• Oracle said developer Related Digital selected a different equity partner from a competitive field and confirmed the choice was not Blue Owl.
• The Financial Times had reported that financing talks for a 1‑gigawatt data center in Michigan involving Oracle and Blue Owl had collapsed.
• Dow Jones reporting notes Oracle issued $18 billion in new debt in September, pushing total borrowings to $111 billion in November from $89 billion a year earlier.
• Additional Dow Jones figures cite $272 billion in lease obligations after a $152 billion jump in three months, negative free cash flow of about $13 billion over 12 months, and a share-price decline of more than 40% since September's peak.