Overview
- Business Insider reported Blue Owl was unable to place third‑party construction debt for the Lancaster, Pennsylvania, campus slated for CoreWeave.
- Blue Owl said that premise is incorrect, stating the project is fully funded, on time and on budget, and noting a $500 million bridge commitment through March.
- Lenders cited caution tied to CoreWeave’s B+ S&P rating, reflecting wider reluctance to add exposure to below‑investment‑grade AI tenants.
- The project is a joint venture of Blue Owl, Chirisa Technology Parks and Machine Investment Group, with CoreWeave leasing 100 MW and an option to expand to 300 MW.
- CoreWeave shares fell as much as 12% on Friday, with Q4 results due Feb. 26 drawing added scrutiny of financing and buildout plans.