The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← Research · Q1

CoreWeave (capital (treasury/financing facet)) → Blue Owl Capital / Chirisa Technology Parks (Lancaster PA JV) hypothesis — not confirmed

$4.0B (estimate) — Blue Owl Capital, Chirisa Technology Parks, and Machine Investment Group closed a $4B JV funding a 100MW Lancaster, Pennsylvania campus with CoreWeave as sole tenant -- the JV's own funding total, a proxy for but not necessarily equal to CoreWeave's specific lease payments.

high confidence · about Blue owl capital chirisa technology parks lancaster pa jv

$4.0B (estimate) — Blue Owl Capital, Chirisa Technology Parks, and Machine Investment Group closed a $4B JV funding a 100MW Lancaster, Pennsylvania campus with CoreWeave as sole tenant -- the JV's own funding total, a proxy for but not necessarily equal to CoreWeave's specific lease payments.

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the working

Basis

$4.0B (estimate) — Blue Owl Capital, Chirisa Technology Parks, and Machine Investment Group closed a $4B JV funding a 100MW Lancaster, Pennsylvania campus with CoreWeave as sole tenant -- the JV's own funding total, a proxy for but not necessarily equal to CoreWeave's specific lease payments.

This is a hypothesized partial answer to CoreWeave (delayed-draw term loan facility (disclosed at Q2 2026 earnings), 2026-08-11) → CoreWeave (capital (treasury/financing facet)) — not a confirmed decomposition of its figure, and not counted toward any total.

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