LANSING, Mich. (WLNS) — The Oracle and OpenAI data center under construction in Saline Township now carries a price tag of $16 billion, more than double the $7 billion figure that was widely cited when the project was first announced last year, according to a financing announcement from developer Related Digital.
Related Digital and funds affiliated with Blackstone said on Friday that they have secured the equity and debt financing needed to fund the project, calling it one of the largest data center capital raises in the country. PIMCO-managed funds and accounts anchor the long-term, fixed-rate debt, while Bank of America is serving as the project’s structuring agent. Goldman Sachs and Wells Fargo are also on as advisers.
A spokesperson for Related Digital did not immediately respond to questions asking why there is a discrepancy in the originally cited $7 billion figure and the $16 billion finance deal.
The campus will consist of three single-story data center buildings with a capacity of more than a gigawatt. The developer said construction is underway…