Blue Owl and Partners Advance $5 Billion Data Center Venture

May 28, 2025
Blue Owl Capital, Chirisa Technology Parks, and PowerHouse Data Centers have closed a $750 million transaction as part of their $5 billion joint venture to develop AI data centers.

Blue Owl Capital, Chirisa Technology Parks, and PowerHouse Data Centers have announced the closing of a $750 million transaction in their joint venture, which aims to deploy up to $5 billion for AI and HPC data center developments. This partnership, launched in August 2024, focuses on supporting CoreWeave and other hyperscale and enterprise data center customers announced in a press release.

Construction began in 2024 at Chirisa's 350-acre campus in Chesterfield, VA, with an initial 120MW of new critical facilities expected to be delivered in 2025 and 2026. The campus is designed to support dense GPU clusters and advanced computing technologies, featuring a proprietary 'direct-on-chip' liquid cooling system that is nearly twice as energy-efficient as traditional systems.

The venture combines the development expertise of PowerHouse and Chirisa with Blue Owl's financial strength, aiming to deliver scalable and sustainable digital campuses. The Chesterfield facility offers robust access to power and fiber, emphasizing sustainability and innovation in its design and operations.

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