What is the story about?
April
1 (Reuters) - Data center developer Related Digital is closing in on $16 billion of financing for a giant Oracle data center following months of negotiations with investors, Bloomberg News reported on Wednesday.
* Related Digital has been rounding up cash to build acampus in Michigan's Saline Township that would allow Oracle topower applications for OpenAI, according to the report. Thefinancing is expected to be finalized as soon as this month. * Big Tech companies have been pouring billions intobuilding AI infrastructure, driven by the pursuit of technologycapable of matching or surpassing human intelligence. * Blackstone's equity contribution is projected to be lowerthan expected at nearly $2 billion, amounting to about half ofwhat was initially under consideration, the report said. * Bank of America is leading an additional $14 billion indebt financing that was originally intended as a constructionloan but is now expected to be structured as a bond offering,according to Bloomberg. * Related Digital, Oracle, Blackstone and BofA did notimmediately respond to Reuters' requests for comment. * OpenAI, Oracle and Related Digital in October announcedthat they are building a data center campus of more than 1gigawatt in Saline Township as part of their Stargate push toexpand U.S. AI infrastructure capacity.(Reporting by Juby Babu in Mexico City; Editing by Maju Samuel)
