Pacific Investment Management Co. is in talks to anchor a $14 billion debt financing package for an Oracle data center 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 transaction would position Pimco as a key capital provider to one of the largest data center 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. Bank of America has spent months assembling the capital structure, while Blackstone is expected to contribute approximately $2 billion in equity.

For Pimco, the potential deal would mark its second major data center financing within a year. The firm previously partnered with Blue Owl Capital on Meta's Hyperion site in Louisiana, where it held $18 billion in debt at pricing and later recorded a $2 billion paper gain. The Michigan project reflects a broader trend of institutional capital flowing into AI-driven infrastructure, with recent Oracle-related financings reaching $38 billion across Texas and Wisconsin, as well as $18 billion in New Mexico.