Blue Owl Capital Inc. (Blue Owl), Chirisa Technology Parks (CTP), and PowerHouse Data Centers (PowerHouse) are announcing the first phase of a $5 billion joint venture (JV) development partnership focused on the development of large-scale AI/HPC data centers for CoreWeave, Inc. (CoreWeave).
The JV represents an innovative and flexible capital solution allowing for the rapid development and deployment of new AI/HPC capacity across the United States on a Built-to-Suit basis.
The initial 120MW of capacity under the program will be delivered for CoreWeave in 2025 and 2026 at CTP's 350-acre campus near Richmond, VA. Further deployments in the pipeline include brownfield and greenfield campuses in New Jersey, Pennsylvania, Texas, Kentucky, and Nevada.
"This breakthrough transaction with Blue Owl, CTP, and PowerHouse is the first stage of a large-scale partnership focused on meeting the near-term requirements of our hyperscale customer base,” said Lee Hayes, president and CEO of CTP. “Through innovative structuring, broad financial distribution and the transactional expertise of our partners at Blue Owl, this partnership unlocks very substantial growth capital for one of the most important players in today's AI hyperscale landscape."
Newmark served as advisor to the Joint Venture.
For more information about this news, visit www.blueowl.com, https://chirisatechnologyparks.com, or www.powerhousedata.com.