Crusoe, Blue Owl Capital and Primary Digital Infrastructure Enter $3.4 billion Joint Venture for AI Data Center Development

Source: Crusoe

Crusoe Energy Systems LLC, a vertically-integrated AI infrastructure company, Blue Owl Capital Inc. (“Blue Owl”), a leading alternative asset manager, and Primary Digital Infrastructure, an advisory and investor firm focused in the data center industry, announced today a $3.4 billion joint-venture to fund purpose-built data center capacity at the previously announced Lancium Clean Campus in Abilene, Texas. Under the terms of the fully funded forward takeout, funds managed by Blue Owl’s Real Estate platform and Primary Digital Infrastructure will jointly sponsor the 206 MW 998,000 square foot data center being designed, built, and operated by Crusoe.

The Crusoe AI data center is a build-to-suit, two-building data center constructed to industry leading efficiency and reliability standards, and capable of supporting high energy density IT applications. The project is 100% long-term leased to a Fortune 100 hyperscale tenant with occupancy expected to begin in 1H 2025. Supported by Blue Owl’s investment and developed by Crusoe, the project will incorporate an innovative DC design, sharpened to support cutting edge AI workloads at an industry-leading scale. The design will be optimized for direct-to-chip liquid cooling and will also accommodate air cooling. At completion, the data center will be able to operate up to 100,000 GPUs on a single integrated network fabric, advancing the frontier of data center design and scale for AI training and inference workloads.

“Rapidly expanding demand for purpose-built data centers proves that markets know the future will be powered by AI,” said Chase Lochmiller, CEO and co-founder of Crusoe. “We've designed this data center to enable the largest clusters of GPUs in the world that will drive new breakthroughs in AI. An investment of this magnitude from a leading, trusted asset manager like Blue Owl and Primary Digital Infrastructure is a reflection of Crusoe’s proven ability to meet growing demand for AI compute, and to power these workloads sustainably.”

“We are thrilled to be part of this joint venture as we see continued growth in cloud computing and increased investor interest in AI related technologies. We want to assist our corporate partners by deploying meaningful capital in support of high quality hyperscale data center assets across the US and abroad,” said Marc Zahr, co-president and global head of real estate at Blue Owl Capital.

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