Related Digital

Today, I am thrilled to share that Related Digital is developing a more than 1-gigawatt data center campus in Saline Township, Michigan exclusively for Oracle as part of OpenAI and Oracle's previously announced partnership to deliver 4.5 gigawatts of additional Stargate capacity. This multi-billion project will create 2,500+ union construction jobs, 450+ jobs onsite, 1,500 jobs county-wide, as well as thousands more indirect jobs across Michigan and the U.S. Thanks to Governor Gretchen Whitmer’s leadership and bipartisan efforts to attract projects like ours to the State, Michigan is well positioned to play a central role in delivering the digital infrastructure that will keep America competitive in the global AI race. Our Related Digital team is especially proud that this campus is being designed and built the right way — with a closed-loop cooling system that limits daily water use to levels comparable to an office building, the preservation of hundreds of acres of farmlands, wetlands, and woodlands, and a LEED-certified, sustainable design. Power to the site is being provided directly by DTE Energy using existing resources augmented by a new battery storage investment – financed entirely by the project – in a way that ensures there is no impact on DTE’s existing customers’ energy supply or rates. In fact, DTE’s customers will benefit from the project contributing its share to the fixed costs of maintaining and improving the grid. None of this happens without true collaboration and many pieces falling into place. I want to thank Governor Whitmer and Michigan EDC, our partners at Oracle including CEO Clay Magouyrk and EVP Mahesh Thiagarajan, Sam Altman and the OpenAI team, the team at DTE Energy, our constructions partners at Walbridge, and our incredible team at Related Digital led by CEO Brent Behrman. Please read more about today’s announcement here: https://lnkd.in/eU2NgMNv #RelatedDigital #Oracle #OpenAI #Stargate #Michigan #Innovation #Sustainability #AIInfrastructure #Partnership

Yesterday, Related Digital celebrated the groundbreaking of a new $1.2 billion state-of-the-art data center in Cheyenne, Wyoming. We were proud to be joined by Wyoming Governor Mark Gordon, Cheyenne Mayor Patrick Collins, as well as partners from CoreWeave, Clayco, Black Hills Energy, and Ascent.   This marks the first phase of a 115-acre campus that will ultimately support 302 MW of critical IT capacity. The initial 184,000-square-foot facility, fully leased by CoreWeave, will deliver 88 MW of critical capacity and is slated for completion in late 2026.   In addition to the $250 million in tax revenue the project will generate over the next 15 years, Related Digital will also provide $3.5 million in funding to help support an affordable housing initiative that will bring 184 new low-cost housing units to the Cheyenne community. Read more:  https://lnkd.in/eUqTHd63

Today, Related Companies announced we have accelerated our push into data centers with the formal launch and capitalization of Related Digital, the vertically integrated data center development and investment platform that we have been incubating within Related over the last two years. With a $45 billion near-term development pipeline of more than 5GW across the U.S. and Canada, Related Digital combines our 50-year+ track record of innovation and executing complex real estate and infrastructure projects with our expertise in real estate investing and developing clean energy solutions through our affiliate energyRe. This launch and new capital formation effort, which includes Related Digital investing a minimum of $500 million in initial sponsor commitments in our near-term development pipeline, allows us to meet the exploding demand for AI and cloud infrastructure solutions. To fuel Related Digital’s continued growth, we also announced an important multi-phase capital raising effort to unlock up to $8 billion in private capital. This strategy leverages the best of our talent at Related, including our expert in-house capabilities in construction and engineering, steel fabrication, mechanical and BMS contracting, supply chain and materials procurement, site selection and land development, and entitlement and zoning, which provides a unique competitive advantage and certainty of execution for partners. And, to further complement our existing team, we are pleased to announce the following leadership appointments at Related Digital: Brent Behrman, Chief Investment Officer; Greg Myers, Chief Financial Officer; Erik Egger, LEED AP Vice President of Design & Construction; and John Shine, Vice President of Sales. We are excited to share more about Related Digital and our growing pipeline of projects in the months ahead. Learn more about today's news and Related Digital's leadership team in our press release (https://lnkd.in/e_rEKq-H), on our website, and by watching my conversation with CNBC’s David Faber this morning here: https://lnkd.in/eur_TAzn :