Oracle down on report Blue Owl Capital will not back $10 billion deal for Michigan data center

Shares of tech major Oracle ORCL.N down 2.5% at $184 premarket

Oracle's largest data center partner Blue Owl Capital OWL.N will not back a $10 billion deal for its next facility, Financial Times reports

OWL had been in discussions with ORCL and lenders regarding investing in the planned 1 gigawatt data center being built to serve OpenAI in Saline Township, Michigan, report says

The agreement will not go forward after negotiations stalled, Financial Times reports citing three people familiar with the matter

Blue Owl Capital down 2.3% before the bell

Up to last close, ORCL had gained ~13% YTD, while OWL had fallen ~32%