Data center developer Related Digital announced on Friday that it has secured financing for its $16 billion data center campus in Michigan, being built for Oracle. The company stated that the financing includes equity investments from Related Digital and funds managed by Blackstone Group LP, alongside a fixed-rate, long-term debt financing led by funds and accounts managed by PIMCO. The project for a data center with a capacity exceeding 1 gigawatt in Salem Township, Michigan, was announced in October by OpenAI, Oracle, and Related Digital, as part of efforts to expand U.S. artificial intelligence infrastructure capacity.
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