A $16B financing for a giant Oracle data center in Michigan has closed, with BofA selling $14B in bonds; Oracle plans to use the campus to power apps for OpenAI

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TLDR

  • Oracle closed a $16 billion financing for a Michigan data center campus, partly intended to support OpenAI workloads.

Key Facts

  • The $16 billion financing for an Oracle data center in Michigan has closed after months of negotiations.
  • Bank of America sold $14 billion in bonds as part of the deal.
  • Oracle plans to use the Michigan campus to power applications for OpenAI.

Why It Matters

  • The deal is one of the largest single data center financings on record, signaling continued capital-market appetite for AI infrastructure.
  • Oracle’s direct tie to OpenAI workloads positions the campus as a key node in frontier AI compute supply.

Bloomberg · 2026-04-25 · Read the original