Data Center Developer Backed by Blue Owl Capital Raises $1.1 Billion for AI Compute

A data center developer supported by an affiliate of Blue Owl Capital has raised $1.1 billion through a bond issuance to fund the Digital Drive project near Richmond, Virginia. The facility, which will feature 76 megawatts of IT capacity, has been fully leased by CoreWeave under a 15-year, $2.94 billion contract. The data center is expected to become operational between 2027 and 2028.