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Related Digital confirmed it arranged financing for a $16 billion data center campus in Saline Township, Michigan. The company stated that the package includes both equity and long-term debt. Funds affiliated with Blackstone contributed equity alongside Related Digital.
In addition, debt financing came from accounts managed by PIMCO. Reports indicated that PIMCO purchased about $10 billion in bonds. Other investors acquired the remaining portion of the debt offering.
Bank of America acted as the structuring agent and financial advisor. Meanwhile, Goldman Sachs and Wells Fargo supported the deal as advisors. According to available details, Bank of America sold about $14 billion in bonds tied to the project.
Jeff T. Blau, CEO of Related Companies, stated, ”The strength of this financing is a powerful validation of what we have built at Related Digital.” He added that partners understand the scale and long-term value of the project.
The data center campus will support Oracle as part of its cloud and AI operations. The project forms part of a broader collaboration that also includes OpenAI. The partners announced the initiative earlier as part of efforts to expand computing capacity in the United States.
Construction began in February and continues across the Saline Township site. The campus will include three single-story buildings. Together, they will deliver more than one gigawatt of capacity.
Mahesh Thiagarajan from Oracle Cloud Infrastructure stated, ”The rapid progress at our Saline Township data center reflects the urgency of building next-generation AI infrastructure.” He added that the project will support job creation and long-term economic activity.
At the same time, demand for digital infrastructure continues to grow. Large technology companies such as Alphabet, Amazon, and Meta plan to invest about $650 billion in AI-related infrastructure this year, according to data from Bridgewater Associates.
The project is expected to generate employment across multiple stages. Reports show more than 2,500 union construction jobs during development. In addition, the site will support over 450 permanent roles and around 1,500 jobs across the county.
The development will also contribute tax revenue to local authorities and schools. It includes $14 million in direct benefits for the local fire department and community programs. These measures aim to support public services in the surrounding area.
Energy supply will come from DTE Energy using existing resources and a new battery storage system. Oracle will finance the storage investment. The setup is expected to reduce grid costs and create savings for existing customers.
Nadeem Meghji from Blackstone stated, “Demand for digital infrastructure continues at a rapid pace, driven by AI and digitalization.” He noted that the firm aims to support computing capacity through such investments.
The campus will use a closed-loop cooling system to manage water usage. It will also preserve more than 750 acres of open land, including farmland and wetlands. The site, known as ‘The Barn,’ will retain a historic structure at its entrance.
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