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00:02Oracle shares fell 5% on Wednesday after a Financial Times report said
00:06talks with Blue Owl Capital to back a $10 billion data center project in Michigan had stalled.
00:12Blue Owl held talks with Oracle to fund a data center in Michigan,
00:15but the plans fell through over concerns about Oracle's rising debt
00:19and heavy artificial intelligence spending. Oracle said the project is moving forward
00:24and that Blue Owl was not part of the equity discussions.
00:26The company said Related Digital selected a different equity partner
00:30and that final negotiations are proceeding on schedule without naming the firm.
00:36Related Digital denied that Blue Owl walked away
00:38and said the project drew strong interest from equity partners,
00:42adding that the selected partner has deep expertise but was not named.
00:46For all things money, visit Benzinga.com.
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