Oracle's $10 billion Michigan data center project hits a stalemate

PANews, December 17 — According to the Financial Times, Oracle's largest data center partner, Blue Owl Capital, will not provide funding for Oracle's next $10 billion data center project, as the software giant faces growing concerns over debt and AI spending. Blue Owl had previously been in negotiations with lenders and Oracle to invest in a 1-gigawatt data center in Saline Township, Michigan, which was planned to serve OpenAI. However, according to three people familiar with the matter, the deal will not move forward as negotiations have stalled.