Oracle says Michigan data center project talks on track without Blue Owl

Oracle said talks for an equity deal to support its Michigan data center project remain on schedule and do not include Blue Owl Capital, after a report of stalled negotiations with the crucial partner knocked its shares down 5% on Wednesday.

The more than 1-gigawatt project in Saline Township, Michigan, is part of the Stargate AI infrastructure push by Oracle and OpenAI. Oracle said in late October that construction is slated to begin in early 2026.