Related Digital secures $16B for Michigan AI data center campus
Business
Related Digital just locked in $16 billion to build a huge new data center campus in Saline Township, Michigan, teaming up with Oracle.
Construction actually kicked off back in February, and the whole idea is to ramp up AI infrastructure across the US.
The funding comes from Related Digital, Blackstone, and PIMCO-managed funds (which bought about $10 billion in bonds), with Bank of America helping organize the deal.
Blackstone $2B equity Bridgewater $650B AI
Blackstone put in around $2 billion of its own equity for this project.
This move fits right into a larger wave: big tech names like Alphabet, Amazon, and Meta are expected to spend an eye-popping $650 billion on AI infrastructure this year alone, according to Bridgewater Associates.