Oracle Data Center Nears $16 Billion Financing After Twisty Path

Related Digital is finalizing $16 billion of financing for a giant Oracle Corp. data center, after months of stop-and-start negotiations with investors.

The developer has been rounding up cash to build a Michigan campus that would allow Oracle to power applications for OpenAI. The financing follows other massive debt packages that banks assembled for Oracle data centers: a $38 billiondebt deal to build facilities in Texas and Wisconsin, and $18 billionfor a New Mexico site.

The protracted process involving the project in Michigan’s Saline Township shows how Big Tech’s debt-fueled AI splurge is running into more intense ...