Related Digital is finalizing $16 billion in financing for Oracle's giant data center after months of negotiations with investors, Bloomberg reported. The project is located in Michigan and is part of an AI infrastructure expansion.
Blackstone invests USD 2 billion, debt to be led by Bank of America
Blackstone Inc.'s $BX will provide an equity investment of about $2 billion, while Bank of America Corp. $BAC will lead an additional $14 billion in debt financing. This financing was originally planned as a construction loan, but is now expected to be structured as a bond issue.
The financing is expected to close this month. Related Digital, a subsidiary of New York-based development giant Related Cos. confirmed that the financing will be completed shortly.
Saline Township project generates over 1 gigawatt of capacity
Related Digital, Oracle $ORCL and OpenAI announced plans in October 2025 to develop a data center campus with more than one gigawatt of capacity in Saline Township, Michigan. The multibillion-dollar investment in the project is part of a partnership between OpenAI and Oracle to deliver an additional 4.5 gigawatts of capacity to the Stargate project.
The project consists of three single-story, 550,000-square-foot buildings on 250 acres. The investment is expected to create more than 2,500 union construction positions and a total of more than 450 on-site jobs, plus 1,500 positions countywide.
Oracle has already raised $58 billion in AI infrastructure funding
The financing follows other massive debt packages put together by banks for Oracle data centers: a $38 billion debt deal to build facilities in Texas and Wisconsin and $18 billion for a site in New Mexico . In total, Oracle has raised approximately $58 billion in debt financing for its data center projects.
The Texas and Wisconsin package would be the largest debt package associated with AI infrastructure. The $38 billion debt offering consists of $23 billion and $15 billion of term loans led by JPMorgan, while Oracle is preparing another $18 billion of other debt financing for a data center in New Mexico led by SMBC, MUFG, BNP Paribas and Goldman Sachs.
Stargate project expands across US with $500bn investment
Stargate was launched by OpenAI in January 2025 in partnership with SoftBank, Oracle and Abu Dhabi's MGX with an initial investment of US$100 billion, which will increase to US$500 billion over the next four years. In addition to the campus in Abilene, Texas, Stargate campuses are being developed across the US in Shackelford County, Texas, Doña Ana County, New Mexico, and Port Washington, Wisconsin.
The project brings Stargate to more than 8 gigawatts of planned capacity and more than $450 billion of investment over the next three years. Oracle has a contract to provide OpenAI cloud services worth approximately $300 billion over five years.
Related Digital has a $45 billion development pipeline with more than 5 gigawatts of near-term capacity across the U.S. and Canada . Oracle's stock has fallen in recent months and the cost of securing debt against default has risen, leading some potential investors to question, but spokespeople for Oracle, Bank of America and Related Digital confirmed that the financing is progressing as planned.