Blue Owl Backs Out of Funding Oracle's $10bn Michigan Facility

Blue Owl Capital is not planning to provide financial backing to Oracle's planned data center in Saline Township, Michigan. The data center project, valued at $10 billion, is being developed by Oracle, Related Digital, and OpenAI as part of the latter's Stargate project.

The campus is expected to have an IT capacity of 1GW, will be located on a 250-acre site – known as The Barn – and will consist of three 550,000 sq ft (51,097 sqm) single-story buildings, and reportedly use a closed-loop cooling system to reduce water use.

Oracle said: “Our development partner, Related Digital, selected the best equity partner from a competitive group of options, which in this instance was not Blue Owl... Final negotiations for their equity deal are moving forward on schedule and according to plan.”