Funds managed by Blue Owl Capital, Chirisa Technology Parks, and PowerHouse Data Centers have executed a joint venture development agreement focused on the development of large-scale AI/HPC data centres for CoreWeave.
The agreement is intended as the first stage of a partnership with capacity to deploy up to $5 billion (£3.8bn) of capital for turnkey AI/HPC data centre developments supporting CoreWeave and other hyperscale and enterprise data centre customers.
The joint venture represents an innovative and flexible capital solution allowing for the rapid development and deployment of new AI/HPC capacity across the US on a built-to-suit basis. The initial 120MW of capacity under the programme will be delivered for CoreWeave in 2025 and 2026 at CTP’s 350-acre campus near Richmond, Virginia. Further deployments in the pipeline include brownfield and greenfield campuses in New Jersey, Pennsylvania, Texas, Kentucky and Nevada.
Announcing the transaction today, Lee Hayes, President and CEO of CTP, states, “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. 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.”
Doug Fleit, CEO and Co-Founder of PowerHouse, continues, “PowerHouse is proud to partner with Blue Owl and CTP. By bringing our proven real estate leadership and cadre of acquisition, development, and power procurement experts to the JV, this partnership will redefine the landscape of precision hyperscale infrastructure.”
Marc Zahr, Blue Owl’s Co-President and Head of Real Estate, adds, “This partnership between Blue Owl, CTP and PowerHouse brings together three distinguished operators in our respective areas of expertise. Blue Owl is in the process of deploying significant amounts of capital in support of large-scale data centre development transactions across the US and Europe. We are happy to partner with CoreWeave, CTP and PowerHouse and look forward to supporting the partners’ longer term development ambitions.”
Newmark served as advisor to the joint venture.
For more from PowerHouse Data Centers, click here.
The post AI/HPC data centre joint venture announced appeared first on Data Centre & Network News.
Funds managed by Blue Owl Capital, Chirisa Technology Parks, and PowerHouse Data Centers have executed a joint venture development agreement focused on the development of large-scale AI/HPC data centres for CoreWeave.
The agreement is intended as the first stage of a partnership with capacity to deploy up to $5 billion (£3.8bn) of capital for turnkey AI/HPC data centre developments supporting CoreWeave and other hyperscale and enterprise data centre customers.
The joint venture represents an innovative and flexible capital solution allowing for the rapid development and deployment of new AI/HPC capacity across the US on a built-to-suit basis. The initial 120MW of capacity under the programme will be delivered for CoreWeave in 2025 and 2026 at CTP’s 350-acre campus near Richmond, Virginia. Further deployments in the pipeline include brownfield and greenfield campuses in New Jersey, Pennsylvania, Texas, Kentucky and Nevada.
Announcing the transaction today, Lee Hayes, President and CEO of CTP, states, “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. 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.”
Doug Fleit, CEO and Co-Founder of PowerHouse, continues, “PowerHouse is proud to partner with Blue Owl and CTP. By bringing our proven real estate leadership and cadre of acquisition, development, and power procurement experts to the JV, this partnership will redefine the landscape of precision hyperscale infrastructure.”
Marc Zahr, Blue Owl’s Co-President and Head of Real Estate, adds, “This partnership between Blue Owl, CTP and PowerHouse brings together three distinguished operators in our respective areas of expertise. Blue Owl is in the process of deploying significant amounts of capital in support of large-scale data centre development transactions across the US and Europe. We are happy to partner with CoreWeave, CTP and PowerHouse and look forward to supporting the partners’ longer term development ambitions.”
Newmark served as advisor to the joint venture.
For more from PowerHouse Data Centers, click here.
The post AI/HPC data centre joint venture announced appeared first on Data Centre & Network News.