Blue Owl Capital, Chirisa Technology Parks (CTP), and PowerHouse Data Centers have entered into a joint venture to develop large-scale AI and high-performance computing (HPC) data centers for CoreWeave. The partnership, which could deploy up to $5 billion in capital, marks a significant move in the data center industry, aimed at meeting the growing demands of hyperscale and enterprise customers. The first phase will see 120MW of capacity delivered to CoreWeave in 2025 and 2026 at CTP’s campus near Richmond, VA, with additional developments planned in multiple U.S. states.
This joint venture combines the strengths of each partner: Blue Owl’s financial expertise, CTP’s data center development capabilities, and PowerHouse’s real estate and power procurement skills. The collaboration is designed to rapidly expand AI/HPC infrastructure across the U.S., addressing the increasing need for robust, efficient, and scalable data center solutions. The venture is poised to redefine the landscape of hyperscale infrastructure, with a focus on innovation and growth.
• Joint venture between Blue Owl, CTP, and PowerHouse to develop AI/HPC data centers for CoreWeave.
• Up to $5 billion in capital deployment; 120MW capacity set for delivery in 2025-2026.
• Initial deployment at CTP’s campus near Richmond, VA, with further expansions planned across the U.S.
• The partnership leverages Blue Owl’s financial resources, CTP’s development expertise, and PowerHouse’s real estate capabilities.
• Focus on rapidly scaling AI and HPC infrastructure to meet hyperscale and enterprise demands.Lee Hayes, President and CEO of CTP, stated, “This breakthrough transaction with Blue Owl, CTP, and PowerHouse is the first stage of a large-scale partnership focused on meeting the near-term requirements of our hyperscale customer base.”
