Blue Owl Capital Inc., Chirisa Technology Parks, and PowerHouse Data Centers have come together to form a joint venture development agreement. Their goal is to develop large-scale AI/HPC data centers for CoreWeave, Inc. The joint venture was advised by Newmark.
This partnership marks the first stage of a long-term collaboration with the potential to invest up to $5 billion in capital towards turnkey AI/HPC data center projects that will support not only CoreWeave but also other hyperscale and enterprise clients.
The initial phase of this program will involve delivering 120MW of capacity for CoreWeave between 2025-2026 at CTP’s expansive 350-acre campus near Richmond, Virginia. Additional deployments are already in progress and include both brownfield and greenfield campuses located in New Jersey, Pennsylvania, Texas, Kentucky, and Nevada.
In an official statement released today by Lee Hayes – President & CEO of CTP – he expressed his excitement about this transaction: “Through innovative structuring techniques combined with our partners’ extensive financial distribution capabilities at Blue Owl Capital Inc., we are able to unlock significant growth opportunities for one of the key players within today’s rapidly expanding AI hyperscale market.”
