Oracle Data Center Project Nets $16B Financing From Blackstone, PIMCO
Related Digital and equity partners including Blackstone secured $16 billion in equity and fixed-rate debt from PIMCO-managed accounts to fund Oracle’s three-building, 1+ gigawatt data center campus in Saline Township, Michigan. Wisconsin regulators approved a new rate requiring Oracle’s Port Washington AI project to cover full costs of two $2 billion natural gas plants and meet a 100 MW threshold.
1. Financing Secured for Michigan Data Center
Related Digital announced closing of $16 billion in financing to build a 1+ gigawatt data center campus for Oracle in Saline Township, Michigan. The funding package combines equity from Related Digital and Blackstone-affiliated funds with long-term, fixed-rate debt anchored by PIMCO-managed accounts.
2. Funding Structure Involves Major Investors
Bank of America served as structuring agent and financial advisor, while Goldman Sachs and Wells Fargo acted as advisors. Equity contributions come from Related Digital and Blackstone funds, with debt financing structured to lock in fixed rates and extended maturities backed by PIMCO funds.
3. Wisconsin Adopts New Data Center Rates
The Wisconsin Public Service Commission approved a special energy rate requiring large data centers like Oracle’s Port Washington AI campus to pay the full capital costs of two new $2 billion natural gas plants and shortened the mandatory enrollment threshold to 100 MW of demand.
4. Project Capacity and Timeline
The Saline Township campus comprises three single-story data halls designed for closed-loop cooling and LEED certification, offering more than a gigawatt of compute capacity. Construction is underway and remains on schedule for phased handover to Oracle as part of its U.S. AI infrastructure expansion.