Data Center View - June 25, 2025 - Crusoe secures $750M debt facility for data center expansion

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NEWS ROUNDUP

FINANCING: Crusoe secures $750 million debt facility for data center expansion. Crusoe has secured a $750 million credit facility from Brookfield Asset Management to support the build-out of its AI data centers and cloud infrastructure. The financing, arranged through Brookfield’s infrastructure debt platform, will help fund Crusoe’s expansion—including one of the world’s largest AI data centers in Abilene, Texas. Chase Lochmiller, Crusoe’s CEO and co-founder, said the capital will accelerate the company’s delivery of “AI factories.” Brookfield’s Eric Wittleder called Crusoe a strong fit for its strategy to back scalable infrastructure for the AI era. The deal follows Crusoe’s $600 million Series D round, a $225 million facility from Upper90, and a $15 billion JV with Blue Owl and Primary Digital. Eastdil Secured advised on the transaction.

DEVELOPMENT: Amazon to invest $20 billion in Pennsylvania data center complexes. Amazon will invest $20 billion to build two major data center campuses in Pennsylvania. One site will rise next to the Susquehanna nuclear power plant in Berwick, while the other will be located at the Keystone Trade Center in Fairless Hills, Bucks County. The projects will create at least 1,250 new high-skilled jobs and support thousands more across Amazon Web Services’ data center supply chain. David Zapolsky, Amazon’s chief global affairs and legal officer, said the investment underscores the company’s commitment to AI innovation, job creation, and local community development. Amazon purchased the Susquehanna-adjacent data center site from Talen Energy for $650 million. Talen, which owns most of the nuclear plant, will supply fixed-price, carbon-free power for a campus capable of reaching 960MW—about 40% of the plant’s output.

DEVELOPMENT: Sabey eyes new data center campus in Texas. Sabey Data Centers is planning a major expansion in Central Texas with a new campus in San Marcos, just south of Austin. Mark Noonan, SVP of Revenue at Sabey, confirmed the project is in its early stages, noting the company is "actively working" on a San Marcos site following success in Round Rock. The planned 786-acre site includes 184 acres zoned for light industrial use and a future Pedernales Electric Cooperative substation.

DEVELOPMENT: CoreWeave to build 180MW data center in Indiana. CoreWeave will develop a new 180MW AI-focused data center in Hammond, Indiana, as part of a multibillion-dollar expansion at the Digital Crossroads campus. The new 450,000 sq ft building will be constructed and owned by Decennial Group, which also owns the current 105,000 sq ft facility. CoreWeave will sign a 20-year lease, with the facility expected to come online around 2027, pending a finalized power agreement with utility NIPSCO. CoreWeave Co-Founder and Chief Strategy Officer Brian Venturo said the new site will “support economic and educational opportunities” and deliver “next-generation cloud solutions.”

DEVELOPMENT: Digital Realty scales back Dallas data center expansion plans. Digital Realty has significantly reduced its planned investment at the 2323 Bryan Street data center in Dallas, Texas. Initially slated for a $100 million upgrade under a 2021 agreement, the company has now completed just $13 million in renovations due to “unforeseen circumstances and technical challenges,” according to a memo from the City of Dallas. In March 2025, Digital filed a formal request to amend the original tax incentive agreement and maintain eligibility for a $2 million Texas Enterprise Fund (TEF) grant awarded in 2020–2021.

READ: Data center REITs attract capital with high value and low cap rates.

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