Business
Blue Owl, Chirisa Technology Parks and PowerHouse Data Centers Announce Next Phase of $5 Billion Joint Venture Development Partnership
Blue Owl Capital managed funds ("Blue Owl"), Chirisa Technology Parks ("CTP"), and PowerHouse Data Centers ("PowerHouse") today announced the closing of a $750 million transaction in their landmark joint venture development partnership. The partnership was launched in August 2024, with capacity to deploy up to $5 billion of capital for turnkey AI/HPC data center developments supporting CoreWeave and other hyperscale and enterprise data center customers.
About this update from Blue Owl Capital Inc.
[{"type":"text","content":"CHESTERFIELD, Va., May 27, 2025 /PRNewswire/ -- Blue Owl Capital managed funds ("Blue Owl"), Chirisa Technology Parks ("CTP"), and PowerHouse Data Centers ("PowerHouse") today announced the closing of a $750 million transaction in their landmark joint venture development partnership. The partnership was launched in August 2024, with capacity to deploy up to $5 billion of capital for turnkey AI/HPC data center developments supporting CoreWeave and other hyperscale and enterprise data center customers.","length":546,"tagName":"p"},{"type":"image","alt":"Blue Owl","displaySize":"","headline":null,"caption":"Blue Owl","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":210,"url":"https://media.zenfs.com/en/prnewswire.com/5716d301aebc4bb99044a700e52596d2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/x3a6axRrdWlbc5CofcJEoQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM3MDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/5716d301aebc4bb99044a700e52596d2","width":400,"height":210}},"href":"https://mma.prnewswire.com/media/2697517/blue_owl.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Construction under the program at CTP's 350-acre campus in Chesterfield, VA started in 2024 for an initial 120MW of new critical facilities, with delivery scheduled in 2025 and 2026. The new facilities are cornerstone developments in CoreWeave's rapidly scaling infrastructure footprint. CoreWeave is one of the fastest-growing cloud infrastructure providers for AI workloads.","length":384,"tagName":"p"},{"type":"text","content":"The CTP campus features cutting-edge design standards, purpose-built to support dense GPU clusters and other advanced computing technologies required for large-scale artificial intelligence customers. The campus integrates CTP's proprietary 'direct-on-chip' liquid cooling design, which is almost twice as energy efficient as traditional air-cooled systems. This innovative cooling solution reduces energy consumption and underpins environmentally responsible hyperscale data center operations. CTP and PowerHouse are committed to delivering high-performance infrastructure that aligns with sustainability goals.","length":642,"tagName":"p"},{"type":"text","content":""This next stage of the partnership...