Synopsis
Related Digital has been rounding up cash to build a campus in Michigan's Saline Township that would allow Oracle to power applications for OpenAI, according to the report. The financing is expected to be finalized as soon as this month.Related Digital has been rounding up cash to build a campus in Michigan's Saline Township that would allow Oracle to power applications for OpenAI, according to the report. The financing is expected to be finalized as soon as this month.
Big Tech companies have been pouring billions into building AI infrastructure, driven by the pursuit of technology capable of matching or surpassing human intelligence.
Blackstone's equity contribution is projected to be lower than expected at nearly $2 billion, amounting to about half of what was initially under consideration, the report said.
Bank of America is leading an additional $14 billion indebt financing that was originally intended as a construction loan but is now expected to be structured as a bond offering, according to Bloomberg.
Related Digital, Oracle, Blackstone and BofA did notimmediately respond to Reuters' requests for comment. OpenAI, Oracle and Related Digital in October announced that they are building a data center campus of more than 1 gigawatt in Saline Township as part of their Stargate push to expand U.S. AI infrastructure capacity.
