Blue Owl decided not to pursue Oracle’s $10 billion Michigan data center, source familiar
December 17, 2025 • 2m 37s
Carl Quintanilla (Anchor)
00:00.070
an
oracle
's
AI
ambitions
on
the
heels
of
this
new
report
now
on
the
fate
of
a
data
center
in
michigan
for
that
will
turn
to
seema
modi
important
story
seema
it
Seema Mody (Business News Reporter)
00:08.670
is
called
they're
having
these
questions
surrounding
oracles
one
gigawatt
data
center
in
michigan
and
who
will
finance
this
ten
billion
dollar
project
following
an
FT
report
that
suggests
talks
are
breaking
down
oracle
telling
CNBC
that
the
FD
story
is
incorrect
and
that
its
Seema Mody (Business News Reporter)
00:22.550
developments
partner
related
digital
selected
the
best
equity
partner
from
a
competitive
group
of
options
which
in
this
instance
was
not
owl
and
that
final
negotiations
are
moving
forward
now
i'm
told
by
a
source
familiar
that
blue
owl
decided
to
not
pursue
this
data
center
that
Seema Mody (Business News Reporter)
00:38.190
oracle
is
developing
for
its
main
customer
open
AI
due
to
unfavorable
debt
terms
involving
the
structure
of
repayments
and
that
through
their
due
diligence
process
it
was
found
that
local
issues
in
michigan
too
would
add
to
some
delays
of
that
project
now
blue
owl
is
still
Seema Mody (Business News Reporter)
00:53.070
involved
with
two
other
oracle
data
centers
the
details
of
this
specific
michigan
deal
guys
comes
as
the
market
is
growing
more
concerned
with
the
capital
intensive
nature
of
developing
these
data
centers
tied
to
also
oracle
's
increased
use
of
debt
to
fund
these
projects
the
Seema Mody (Business News Reporter)
01:07.750
movement
and
its
credit
default
swaps
which
of
course
has
raised
another
set
of
questions
around
credit
so
my
sense
is
that
these
projects
are
moving
forward
the
details
tied
to
each
deal
that
are
just
being
scrutinized
more
so
than
perhaps
six
to
eight
months
ago
so
David Faber (Anchor)
01:21.230
seema
it
seems
as
though
based
on
your
reporting
blue
owl
made
a
credit
decision
and
and
again
you
refer
to
the
equity
i
mean
in
these
deals
there's
the
equity
and
then
there's
as
well
the
debt
that
goes
on
top
of
it
can
you
clarify
at
all
what
we're
talking
about
here
Seema Mody (Business News Reporter)
01:37.430
yeah
my
sense
is
that
one
of
the
reasons
blue
owl
did
not
pursue
this
ten
billion
dollar
project
that
oracle
is
trying
to
develop
in
michigan
is
due
to
the
debt
terms
of
this
deal
and
not
so
much
the
equity
more
about
the
debt
story
and
also
just
the
repayment
structure
of
the
Seema Mody (Business News Reporter)
01:52.830
debt
that
would
be
required
to
to
develop
and
finance
the
specific
but
again
i
think
it
just
comes
as
more
investors
evaluate
these
deals
they're
just
becoming
much
more
critical
david
of
the
nuances
and
granularity
of
these
deals
than
perhaps
earlier
this
year
when
it
was
like
Seema Mody (Business News Reporter)
02:06.670
let's
just
get
in
this
is
going
to
be
a
big
long-term
bet
and
it's
going
to
pay
off
but
as
we
debate
the
return
on
investment
investors
too
are
becoming
a
bit
more
critical
right
but
David Faber (Anchor)
02:15.390
it
doesn't
appear
as
though
the
deal
itself
or
i
should
say
the
the
the
project
itself
is
on
hold
in
any
way
that's
what
Seema Mody (Business News Reporter)
02:21.510
the
company
is
saying
that
they're
in
financial
final
discussions
with
a
number
of
different
partners
and
that
this
deal
will
move
forward
that's
the
latest
we
have
Carl Quintanilla (Anchor)
02:29.470
yeah
oracle
shares
now
this
is
going
to
fill
the
gap
going
back
to
june
rather
than
september
at
one
seventy
eight
thanks
seema
seema
mody
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