InfraCompute / Deals
Crusoe Abilene: phase 2 construction loan
Project loan for Crusoe, US$7.1bn, 22 May 2025.
Key terms
- Borrower or issuer
- Crusoe
- Date
- 22 May 2025
- Structure
- Project loan
- Amount
- US$7.1bn
- Pricing
- Not disclosed
- Tenor
- Not disclosed
What’s notable
A US$7.1bn JPMorgan-led construction loan, arranged by Newmark, for phase 2 of the 1.2GW Abilene campus leased to Oracle for OpenAI's Stargate. It forms part of US$11.6bn of debt and equity for phase 2 and about US$15bn for the joint venture overall.
Recorded terms
- Lender type
- Lender type not establishedNo lender named in the public sources held
- Tenor
- Not disclosed
- Security
- Project assets
- Lenders and arrangers
- JPMorgan (lead); Newmark (arranger); JPMorgan-led consortium; Newmark arranged the US$7.1bn phase 2 loan
- Tenant or offtaker
- Oracle (for OpenAI Stargate); 1.2GW campus
Parties
Project connections
Similar financings
Same structure, other borrowers, closest in date.
More from Crusoe
For counsel on this deal
Acting for a lender, borrower or sponsor on a financing like this? Start from the filed precedents. Previews are open; the full text is free with InfraCompute Weekly.
Sources
- Newmark Facilitates $7.1 Billion Construction Loan to Develop AI Data CenterSource date: 22 May 2025
About this record
Compiled from the sources above. Terms are as announced and may have changed since. Methodology · Send a correction.
