Blue Owl, Chirisa Technology Close $4B JV for Data Center Campus
The expanded partnership will fund the CoreWeave project in Lancaster, Pa.
Blue Owl Capital has formed a $4 billion joint venture with Chirisa Technology Parks and Machine Investment Group to build and maintain the CoreWeave data center campus in Lancaster, Pa.
The deal also brings Blue Owl’s total funding commitment to Chirisa to $20 billion, backing more than 1 GW of data center projects. Newmark acted as an advisor for the partnership.
AI cloud computing company CoreWeave previously announced it was investing $6 billion in a planned 100 MW facility in Lancaster, where it will be the sole tenant. The campus will serve as an AI infrastructure hub, operating with nearly twice the energy efficiency of traditional data centers. As one of the first large-scale data centers of its kind in the region, the development will include a $200 million investment in local power grid infrastructure improvements, for enhanced safety and efficiency.
Using a sustainable design, the project is expected to bring inclusive economic growth to the region. According to a company statement from Chirisa Technology Parks, the new development will provide high-paying jobs, educational partnerships and opportunities for residents in the surrounding area to participate in the AI ecosystem.
A larger partnership
Previously, Blue Owl’s development agreement with Chirisa Technology Parks included capital commitments to projects in Pennsylvania and Virginia totaling 0.5 GW.
In May, the partners closed a $750 million deal for a Northern Virginia AI campus in Chesterfield, Va. CoreWeave will be the tenant of the new development, which is currently under construction. It is expected to have a capacity of 120 megawatts.
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As of March 2025, Blue Owl Capital had $273 billion in assets under management and has been expanding its presence in the data center and AI-powered infrastructure. The purpose is to build upon the existing infrastructure and create a foundation to support the future of this growing industry.
Earlier this month, Meta called upon Blue Owl and Pacific Investment Management to finance its Louisiana data center expansion, focusing on AI development. Blue Owl is expected to provide $3 billion in equity for the project.
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