Pacific Investment Management Co. is in talks to anchor a $14bn debt financing package for an Oracle data centre in Michigan, according to sources cited by Bloomberg.

The investment giant is working alongside Bank of America to structure the financing, which could be issued as a bond and partially syndicated to institutional investors. The structure may include a 144A private placement, expanding distribution among qualified buyers.

The transaction would position Pimco as a key capital provider to one of the largest data centre developments currently under consideration in the US. The facility, developed by Related Digital, is expected to support Oracle’s growing AI-related workloads, including applications linked to OpenAI.

Moreover, the financing effort highlights the increasing role of large asset managers in underwriting complex infrastructure deals. Bank of America has spent months assembling the capital structure, while Blackstone is expected to contribute approximately $2bn in equity, reinforcing private equity’s role alongside private credit in funding next-generation digital assets.

For Pimco, the potential deal would mark its second major data centre financing within a year. The firm previously partnered with Blue Owl Capital on Meta’s Hyperion site in Louisiana, where it held $18bn in debt at pricing and later recorded a $2bn paper gain.

Consequently, the Michigan project reflects a broader trend of institutional capital flowing into AI-driven infrastructure. Recent Oracle-related financings have reached $38bn across Texas and Wisconsin, as well as $18bn in New Mexico, underscoring the scale of capital required to support hyperscale data centre expansion.

While discussions remain at an early stage, Pimco’s involvement signals strong investor appetite for large-scale digital infrastructure, particularly where long-term demand is underpinned by AI adoption.

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