Crusoe's $11.6bn Data Centre Deal with Blue Owl Capital for AI Growth
Deal News | May 27, 2025 | fitch media ventures
The US AI infrastructure market is poised for growth as joint ventures become a crucial driver. Dallas is emerging as a key data centre hub with its superior connectivity and supportive business environment. The use of direct-to-chip liquid cooling and sustainable technologies are becoming vital to address power efficiency and the risk of obsolescence in data centres. Crusoe has secured $11.6bn for a 1.2GW campus in Abilene, Texas, as part of its joint venture with Blue Owl Capital, marking a significant step in the development of OpenAI's Stargate project. The US fiscal environment is influencing investment patterns in private markets, with an emphasis on infrastructure projects. OpenAI is also exploring expansion in the Asia-Pacific region, with potential new data centres in several countries aiming to maintain competitiveness with other major tech entities.
Sectors
- Technology Infrastructure
- Private Equity and Investment
- Renewable Energy and Sustainability
Geography
- United States – The main focus of the article is on the growth of AI infrastructure in the US, specifically in Texas with the development of Crusoe's data centre.
- Asia-Pacific – OpenAI's expansion plans into countries like Japan, South Korea, and India, among others, in the Asia-Pacific region are mentioned in the article.
Industry
- Technology Infrastructure – The article is focused on the growth and development of AI infrastructure, with significant investments in technology infrastructures like data centres.
- Private Equity and Investment – Joint ventures and private capital play a key role in funding the development of AI infrastructure, highlighting the importance of private equity and investment in this sector.
- Renewable Energy and Sustainability – The push towards sustainable technologies and efficient cooling mechanisms in data centres addressing power demands is central to the article's narrative.
Financials
- USD11.6bn – The amount secured in both debt and equity by Crusoe for the second phase of its USD15bn joint venture with Blue Owl Capital.
- USD3.4bn – The initial commitment amount previously announced as part of the joint venture for the Crusoe project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Crusoe | Data Centre Company | Company | Crusoe is involved in developing a significant data centre project as part of a joint venture. |
| Blue Owl Capital | Alternative Asset Manager | Company | Blue Owl Capital is partnering with Crusoe in the joint venture to fund the data centre project. |
| OpenAI | Client and Project Developer | Company | OpenAI is the primary client for the Stargate data centre project mentioned in the article. |