Data center firms announce $5bn data center JV for CoreWeave

Data center firms Chirisa and PowerHouse are partnering with asset manager Blue Owl for a multi-billion-dollar joint venture to build data centers for AI cloud firm CoreWeave. The agreement is intended as the first stage of a partnership with capacity to deploy up to $5 billion of capital for turnkey build-to-suit AI/HPC data center developments supporting CoreWeave and other hyperscale and enterprise data center customers.

Lee Hayes, president and CEO of CTP, said: “This breakthrough transaction with Blue Owl, CTP, and PowerHouse is the first stage of a large-scale partnership focused on meeting the near-term requirements of our hyperscale customer base. Through innovative structuring, broad financial distribution, and the transactional expertise of our partners at Blue Owl, this partnership unlocks very substantial growth capital for one of the most important players in today's AI hyperscale landscape.”

PowerHouse CEO, Doug Fleit, added: “PowerHouse is proud to partner with Blue Owl and CTP. By bringing our proven real estate leadership and cadre of acquisition, development, and power procurement experts to the JV, this partnership will redefine the landscape of precision hyperscale infrastructure.”