Crusoe, Primary Digital Infrastructure, and Blue Owl Capital enter $3.4 billion data center joint venture

Crusoe Energy Systems LLC, Primary Digital Infrastructure, and Blue Owl Capital Inc. recently announced a $3.4 billion joint venture (JV) that will fund data center capacity at the Lancium Clean Campus in Abilene, Texas.

The 206 MW, purpose-built data center will be designed, built, and operated by Crusoe, who reports the two-building facility will be optimized for direct-to-chip liquid cooling and will accommodate air cooling.

Crusoe CEO and co-founder Chase Lochmiller reported that the market’s demand for purpose-built data centers indicates an understanding of the long-term impacts of AI.

“We’ve designed this data center to enable the largest clusters of GPUs in the world that will drive new breakthroughs in AI,” said Lochmiller in a press release. “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.”

A team from Newmark Group Inc., including Head of Data Center Capital Markets Brent Mayo, acted as the exclusive advisor for the JV. Mayo reported in a separate press release that the group looks forward to continued support of the joint venture.

“Crusoe’s leadership team has positioned the Lancium Clean Campus to capitalize on unprecedented growth from high energy density IT applications, and the JV with Blue Owl and Primary Infrastructure only further supports those efforts,” said Mayo.

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