Related Digital nears $16B Oracle data center to power OpenAI
Related Digital is about to lock in $16 billion in funding for a huge Oracle data center in Saline Township, Michigan.
This new site will help Oracle power OpenAI apps and is part of the growing tech race to build bigger, better AI infrastructure.
The deal could wrap up as soon as this month, according to Bloomberg.
Bank of America leads $14B financing
Bank of America is leading $14 billion in debt financing that is expected to be structured as a bond offering, while Blackstone is pitching in nearly $2 billion, though that's less than first expected.
This project brings together OpenAI, Oracle, and Related Digital to create a next-generation data center campus with over 1 gigawatt of capacity.
It's all about meeting the soaring demand for powerful AI tools and services right here in the US.