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Home/Deal Room/Related Digital secures $16B for Oracle/OpenAI Saline AI campus

Financing · Evidence brief

Related Digital secures $16B for Oracle/OpenAI Saline AI campus

Related Digital + Oracle + OpenAI + Blackstone + PIMCO + DTE Energy

Primary sourcePress release only2026-04-24
Deal structureProject financing / hyperscale AI data-center campus lease and construction
GeographySaline Township, Michigan / Oracle-OpenAI Stargate AI compute campus
Infrastructure layersFinancing + data centers + cloud capacity + power infrastructure
Disclosed scale$16B financing package for a Saline Township, Michigan campus purpose-built for Oracle as part of its OpenAI partnership; three single-story data-center buildings with more than 1 GW of capacity

Why it matters

The strategic read

Adds one of the largest project-finance receipts in the AI buildout. Related Digital is moving an Oracle/OpenAI Stargate campus from local controversy into capital-markets execution, with Blackstone equity, PIMCO-anchored fixed-rate debt, DTE power service, Oracle-funded battery storage and more than a gigawatt of planned capacity.

Source-supported terms

What was disclosed

  1. 01

    Related Digital and Blackstone announced financing for Related Digital's $16B data-center campus in Saline Township, Michigan, purpose-built for Oracle.

  2. 02

    The financing includes equity from Related Digital and funds affiliated with Blackstone, plus fixed-rate, long-term debt financing anchored by PIMCO-managed funds and accounts.

  3. 03

    Bank of America served as structuring agent and financial advisor, with Goldman Sachs and Wells Fargo also advising Related Digital.

  4. 04

    Related Digital said the campus is being developed for Oracle as part of its partnership with OpenAI to expand AI compute capacity across the United States.

  5. 05

    The Saline Township campus comprises three single-story data-center buildings with more than 1 GW of capacity.

  6. 06

    DTE Energy is supplying 100% of the project's power using existing resources augmented by a new battery storage investment financed entirely by Oracle.

  7. 07

    Related Digital said construction on the first data-center buildings is underway and the project remains on schedule for delivery to Oracle.

  8. 08

    Kirkland & Ellis said it advised Related Digital on the lease and financing arrangements and that the financing closed on April 30, 2026.

Disclosure boundary

What is known—and what is not

Primary Related Digital / PRNewswire announcement and Kirkland transaction note; financing size, equity/debt participants, Oracle/OpenAI purpose, DTE power-service framework and campus capacity are public, but full loan documents, lease economics, bond structure, Oracle service contracts, DTE special contracts, battery-storage terms, construction/EPC packages, delivery milestones and workload allocation are not fully public.