Rowan Digital Infrastructure has secured more than $1.5 billion in new corporate financing, the Denver-based hyperscale data center developer announced on November 11, 2026. The package combines a term loan expansion led by Apterra Infrastructure Capital with two new credit facilities led by Citibank, and will fund early-stage development across the company's 5.5-gigawatt US data center pipeline. Rowan did not disclose a valuation; the deal is debt financing rather than an equity round.
What the money covers
The financing splits into three pieces. Apterra increased its existing term loan facility from $300 million to $900 million, a $600 million expansion. Citibank led a new $590 million revolving credit facility and a separate $355 million letter of credit facility, bringing the combined package past $1.5 billion.
Rowan said the capital will pay for land acquisition, power commitments, equipment orders, and permitting work needed to move sites from planning into construction. The company's pipeline includes individual campuses ranging from 300 megawatts to more than 1 gigawatt, with named projects including a 300-megawatt site in Temple, Texas, a similarly sized Cinco campus also in Texas, and a third phase of its Bauxite development in Maryland. Rowan says more than 1.2 gigawatts of that capacity is already contracted to technology customers.
Backers and prior financing
Rowan is backed by Blackstone and Quinbrook and has been building out its hyperscale platform since its founding in November 2020. The new facilities bring the lending syndicate behind Rowan to include Mizuho Bank, MUFG Bank, Goldman Sachs Bank USA, Societe Generale, Sumitomo Mitsui Banking Corporation, and Huntington National Bank, alongside Apterra and Citibank.
The company has now raised more than $8 billion from over 40 lenders in the past eighteen months, including a $2.9 billion facility tied to its Temple campus in May 2026 and $550 million for the Cinco project in February 2026. "Speed to power and deep community engagement will define the next era of digital infrastructure," said Rowan CEO Charley Daitch.
Why the financing matters
Rowan's raise lands in the middle of a broader scramble among data center developers to lock in financing ahead of construction, as demand for AI training and inference capacity outpaces available power. Competing hyperscale developers such as Vantage Data Centers, CoreWeave, QTS, and Crusoe Energy have all announced multibillion-dollar financing packages or build-outs over the past year to compete for the same scarce grid interconnections and land parcels.
What separates Rowan's deal from a typical project-finance loan is its scale at the corporate level: the facilities sit above individual site financings, giving Rowan flexibility to move capital across projects as leases with hyperscale tenants close. The revolving credit facility can expand to $2 billion and the letter of credit facility to $1 billion under conditions in the agreement, giving Rowan room to grow the package without returning to lenders for a fresh deal.
What happens next
Rowan has not said which additional sites will draw on the new facilities first, or when construction will begin on the Cinco and Bauxite Phase 3 campuses. With roughly 4.3 gigawatts of its pipeline still uncontracted, the pace at which Rowan signs new hyperscale tenants will determine how quickly this financing turns into built capacity. Full details are in the company's announcement, covered by Business Wire.