01:39 PM EST, 01/22/2025 (MT Newswires) -- JPMorgan Chase ( JPM ) is financing a data center being developed by Blue Owl Capital (OWL) and its partners in Abilene, Texas, Bloomberg reported Wednesday.

The bank is lending $2.3 billion for the project, which is already leased to Oracle (ORCL), the report said.

Construction began last year, according to Bloomberg.

The news comes at the heels of a $100 billion joint venture that Oracle announced with SoftBank Group and Microsoft-backed (MSFT) OpenAI to develop data centers for artificial intelligence infrastructure in the US.

The first of the projects under construction by the Stargate joint venture is reportedly in Abilene.

JPMorgan ( JPM ), Oracle, and Blue Owl Capital did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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