Oracle data center plan hit as Blue Owl walks from $10 billion deal, source says

Oracle's largest data center partner, Blue Owl Capital, will not provide funding for a $10 billion deal to build ​its next facility, a source said on Wednesday, amid growing concerns ‌about the cloud computing company's rising debt and artificial intelligence spending. Blue Owl's discussions with lenders and ‌Oracle regarding investment in a planned 1-gigawatt data center in Saline Township, Michigan, intended to serve OpenAI, have broken down after stalled negotiations, the person said. A key issue was that Blue Owl viewed the existing leases for the Michigan project as ⁠less favorable than those it ‌had helped structure in its other deals with Oracle, the person said.