Data center investor Related Digital is reportedly close to finalizing $16 billion in financing for an Oracle data center.
According to reporting from Reuters, citing sources familiar with the matter, the data center is likely Oracle’s longstanding data center campus development in Saline Township, Michigan.
Related Digital, which was launched out of US real estate investment firm Related Companies, has long been involved in the development of this campus in partnership with Oracle and OpenAI. Last year, the project was valued at $10 billion.
The development saw local opposition in the form of a lawsuit, which has since been settled.
In October last year, Related Digital said it was developing the project exclusively for Oracle and that it would be part of OpenAI’s Stargate project.
An Oracle spokesperson said the project had recently hit a major milestone, with vertical construction of the campus underway, according to reporting from Reuters.
In December, investor Blue Owl Capital, which had been in discussions with Oracle about investing in the project, said it would not provide funds for the development.
Soon after, reports emerged that Oracle was struggling to secure funding for its OpenAI commitments, as banks and investors lacked confidence in the company’s ability to meet them. Investment firm TD Cowen had previously speculated that Oracle was evaluating layoffs of between 20,000 and 30,000 employees to generate around $8-10 billion in free cash flow.
Oracle has since begun laying off thousands of its workers to fuel its AI data center spend, as revealed in internal emails to staff at the company.
The company also conducted a round of layoffs in August and September 2025, though the scale was much smaller.
Blackstone has also reportedly provided nearly $2 billion to the Saline Township project, though this is less than what was originally expected from the investment firm.
Bloomberg reported that an additional $14 billion in debt financing from Bank of America, originally a construction loan, is expected to now involve a bond issuance.
Related Companies has more than $70 billion in assets owned or under development, including mixed-use, residential, retail, office, and hospitality.
