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A $16bn financing for a giant Oracle Corp data centre in Michigan has wrapped after months of stop-and-start negotiations with investors.Bank of America Corp sold $14bn of bonds tied to the project, in a debt sale that was anchored by Pacific Investment Management Co, according to a statement by the data centre developer Related Digital.Pimco bought about $10bn of the bonds that priced on Friday, while other investors bought the remainder of the debt, according to people with knowledge of the matter, who asked not to be identified because they’re not authorised to speak publicly.The debt is part of a larger $16bn financing package that will fund the data center in Saline Township in southeastern Michigan. Oracle is the tenant and aims to use the campus to power applications for OpenAI, Bloomberg has reported.The financing includes equity from Related Digital and funds affiliated with Blackstone Inc. The latter contributed about $2bn of the equity, Bloomberg previously reported.The bonds were sold privately in a 144A offering, meaning they can only be bought by large institutional investors, the people said. The notes, which mature in 2045, were priced at 98.75 cents on the dollar and carry a 7.5% coupon, according to some of the people and Bloomberg-compiled data.A representative for Pimco declined to comment on the details of the bond financing, while representatives for Oracle also didn’t immediately comment on financing details. Those for Bank of America and for Wells Fargo & Co and Goldman Sachs Group Inc, who were also involved, didn’t immediately respond to comment requests.Related Digital, a venture of New York-based property developer Related Cos, said the project will play a critical role in America’s digital future.The protracted process involving the project in Michigan’s Saline Township shows how Big Tech’s debt-fueled AI splurge is running into more intense scrutiny from Wall Street.The financing follows other massive debt packages that banks assembled for Oracle data centers: A $38bn debt deal to build facilities in Texas and Wisconsin, and $18bn for a New Mexico site.DTE Energy Co is supplying power to the project, while Oracle is financing a new battery storage investment, according to the statement. The Saline Township campus will include three single-story data center buildings with more than a gigawatt of capacity. The project is being developed for Oracle as part of its partnership with OpenAI to expand AI compute capacity across the country.The biggest technology companies are pouring hundreds of billions of dollars into data centers and other infrastructure as they bet artificial intelligence will reshape large parts of the economy. Much of that money is coming from debt markets. Since last year, at least $290bn of debt financing has been arranged for hyperscaler projects.Oracle has become one of the largest high-grade corporate bond issuers in the US, with about $120bn of notes in the main US corporate bond index. In early February, it sold $25bn of bonds. 

The Ministry of Communications and Information Technology (MCIT) and Oracle have signed an agreement to renew the technical support contract for Oracle licences across government entities in Qatar for an additional three-year period from 2025 to 2028, alongside the establishment of a new Oracle dedicated cloud region for the government sector. The agreement aims to enhance the continuity of government digital services through the provision of an integrated backup data centre, thereby strengthening government cloud computing capabilities in Qatar. This agreement comes as a continuation of the existing co-operation between the two parties, which saw the launch of the first dedicated government cloud region in Qatar in February 2024. The new region aims to enhance operational readiness by providing a comprehensive backup infrastructure that ensures uninterrupted government digital services, while strengthening operational continuity and geographic resilience of the cloud infrastructure, in response to the growing digital transformation requirements of government entities. The Oracle Dedicated Cloud Region for the government sector, overseen by the MCIT, supports a number of strategic government initiatives by providing advanced services across Infrastructure as a Service (IaaS), Platform as a Service (PaaS), cloud applications, and artificial intelligence technologies. This contributes to accelerating digital transformation, modernising government services, and enhancing innovation across the public sector. The platform also contributes to strengthening data protection, enhancing readiness to address cybersecurity threats, supporting the operational requirements of artificial intelligence solutions, and enabling government entities to scale digital services securely and efficiently in line with national needs. The agreement comes within the framework of supporting Qatar’s efforts to develop advanced digital infrastructure, in alignment with Qatar National Vision 2030 and the objectives of the Digital Agenda 2030, aimed at developing an integrated digital government sector capable of adopting emerging technologies and accelerating digital transformation nationwide. 

As part of efforts to advance the implementation of the Government Resource Planning and Management System Project, members of the project’s steering committee took part in the Oracle Artificial Intelligence Conference 2025 in Las Vegas in USA.The conference is one of the world’s leading platforms showcasing the latest developments in artificial intelligence, cloud computing, big data analytics, and AI governance.The delegation’s participation aimed to explore the latest international applications and experiences in human and financial resource management systems, artificial intelligence solutions, cloud technologies, and big data analytics, supporting Qatar’s drive to enhance digital transformation and unify national systems across government entities.The visit came within the framework of Qatar’s agreement with global technology giant Oracle, marking a key step in developing the country’s digital infrastructure and leveraging Oracle’s expertise to build integrated smart systems powered by AI, cloud computing, and big data analytics. The partnership seeks to strengthen institutional integration and improve the efficiency of government resource management.Mashaal Ali al-Hammadi, Assistant Undersecretary for Digital Government Affairs at the Ministry of Communications and Information Technology and Chair of the Committee, said: “This visit reflects our commitment to building an integrated digital ecosystem through strategic partnerships with global technology leaders. It supports our efforts to enhance the efficiency of government resource management and improve the quality of public services.”Al-Hammadi added that the collaboration with Oracle represents a pivotal step toward adopting AI and cloud technologies in managing human and financial resources, and in developing intelligent systems that support decision-making and institutional performance, in line with the goals of the Digital Agenda 2030 and the country’s vision for a fully data and knowledge-driven government.On the sidelines of the conference, committee members held several bilateral meetings with Oracle executives and representatives of other global technology firms to review leading international experiences in AI and cloud computing applications. The discussions focused on opportunities for development, knowledge exchange, and aligning best practices with the needs of Qatar’s national project — contributing to faster implementation of digital transformation initiatives and improved efficiency in government operations.The Oracle Artificial Intelligence Conference 2025 provided a dynamic platform for these engagements, highlighting the latest global trends in AI and cloud technologies. It showcased how advanced data analytics can drive innovation and enhance institutional performance, with sessions focusing on intelligent cloud applications in human resources, finance, and supply chain management, as well as the future integration of AI and cloud computing as key drivers reshaping business and service models worldwide.The Steering Committee delegation for the Unified Government Resources Planning (UGRP) was established by a Cabinet decision and includes representatives from the Ministry of Communications and Information Technology, the Ministry of Finance, and the Civil Service and Government Development Bureau.