Apr 08, 2026 | Posted by Abdul-Rahman Oladimeji
Pacific Investment Management Co. (Pimco) is reportedly in discussions with Bank of America Corp. to provide around $14 billion in debt financing to Related Digital for an Oracle data center in Michigan. According to Bloomberg, citing people familiar with the matter, the funding would position Pimco as a major backer of the project in Saline Township, which is being developed for OpenAI.
The discussions are still at an early stage. Sources indicate the financing could be structured as a bond, with portions potentially syndicated to other investors. According to Bloomberg, the deal may take the form of a “144A” offering, involving privately placed debt securities that can be traded among institutional investors.
The Saline Township project was confirmed in October 2025 and is expected to deliver up to 1GW of capacity, with development costs estimated at around $10 billion. The data center forms part of OpenAI’s Stargate initiative, with Related Digital leading development after targeting the site since August 2025. Blue Owl Capital had previously been in discussions to help finance the project but withdrew from the deal in December 2025.
Earlier this month, reports indicated that Related Digital was once again nearing the finalization of financing for the data center campus, targeting a total of $16 billion. Blackstone is reportedly expected to contribute $2 billion in equity to the project. Related Digital, Pimco, and Bank of America declined to comment to Bloomberg. Oracle, however, said it was proud of the “rapid progress” made in financing the campus and confirmed it is working with Related Digital and Bank of America.
