Blue Owl Capital Fuels $4 Billion AI Infrastructure Venture with CoreWeave in Pennsylvania

Blue Owl Capital has taken a significant leap in the realm of artificial intelligence (AI) infrastructure by forming a $4 billion joint venture with Chirisa Technology Parks and Machine Investment Group. This alliance is fueling the ambitious development of the CoreWeave data center campus in Lancaster, Pennsylvania. Noteworthy is Blue Owl's commitment to extend up to $20 billion in funding for new developments alongside Chirisa, underscoring a substantial scaling in their collaboration which currently facilitates almost half a gigawatt of projects across Virginia and Pennsylvania.

CoreWeave, known for its rapid growth as a provider of cloud infrastructure dedicated to AI workloads, will occupy the Lancaster facility as the sole tenant. This facility forms part of its expansive AI-focused infrastructure network, crafted to anchor core U.S. economic regions. The Lancaster campus, once completed, will stand out due to its nearly doubled energy efficiency compared to conventional data centers, propelled by proprietary infrastructure specifically tailored for high-performance computing.

The project in Lancaster is characterized by its massive scope and comprehensive design. An investment of $200 million will be allocated towards improving local power grid infrastructure to bolster resilience and enhance delivery capacities. Energy efficiency is achieved through innovative closed-loop cooling systems and noise-reducing chiller technologies that also emphasize environmental sustainability. Such initiatives are not just technical upgrades, but strategic measures to ensure dependable energy supply for the AI infrastructure, circumventing bottlenecks commonly encountered in this rapidly evolving sector.

David Kelly, Managing Director for North America at Chirisa Technology Parks, highlighted the socio-economic impacts of this project, emphasizing job creation, educational ventures, and enhanced opportunities for local residents to engage with the burgeoning digital economy. Pennsylvania, with its strategic location and robust infrastructure, is optimally positioned to support such grand-scale data center expansions.

Blue Owl Capital, with $273 billion in assets under management as of early 2025, is enhancing its footprint in AI-powered infrastructure with this development. By drawing on their financial resources and expertise, this joint venture not only represents a capital investment but also a strategic alignment of complementary strengths. The partnership leverages CoreWeave’s GPU-as-a-service capabilities, Chirisa’s prowess in data center development, and Blue Owl’s robust capital management.

Marc Zahr, Co-President and Global Head of Real Assets at Blue Owl, remarked on the visionary nature of the partnership, citing its capacity to construct mission-critical infrastructure pivotal to AI innovation. The venture resonates with Blue Owl’s dedication to backing high-conviction investments with strong, strategic partners, promising significant long-term returns.

In conclusion, this investment in Lancaster is more than just the establishment of another data center; it acts as a blueprint for AI infrastructure's future. It presents a rare opportunity for institutional investors and long-term holders to participate in the digital infrastructure boom, promising transformative impacts on digital economies.