Related Digital nears $16 billion financing for Oracle data center, Bloomberg News reports

April 1 (Reuters) - Data center developer Related Digital is closing in on $16 billion of financing for a giant Oracle ORCL.N data center following months of negotiations with investors, Bloomberg News reported on Wednesday.

• Related Digital has been rounding up cash to build a campus in Michigan's Saline Township that would allow Oracle to power applications for OpenAI, according to the report. The financing is expected to be finalized as soon as this month.

• Big Tech companies have been pouring billions into building AI infrastructure, driven by the pursuit of technology capable of matching or surpassing human intelligence.

• Blackstone's BX.N equity contribution is projected to be lower than expected at nearly $2 billion, amounting to about half of what was initially under consideration, the report said.

• Bank of America BAC.N is leading an additional $14 billion in debt financing that was originally intended as a construction loan but is now expected to be structured as a bond offering, according to Bloomberg.

• Related Digital, Oracle, Blackstone and BofA did not immediately respond to Reuters' requests for comment.

• OpenAI, Oracle and Related Digital in October announced that they are building a data center campus of more than 1 gigawatt in Saline Township as part of their Stargate push to expand U.S. AI infrastructure capacity.