Oracle Says Blue Owl Not in Michigan Deal, Talks on Track

Oracle Corp. said final negotiations on an equity deal for a data center project in Michigan are “on schedule” and doesn’t include Blue Owl Capital, a firm that has helped finance massive data center projects for firms including Oracle and Meta Platforms Inc. in recent months.

Oracle said its development partner on the project, Related Digital, chose “the best equity partner from a competitive group of options, which in this instance was not Blue Owl.” The tech firm was responding to a Financial Times report that cited people familiar with the situation saying Blue Owl will not be backing a $10 billion deal for the project.