Blue Owl Capital is assembling a proposed publicly traded REIT seeded with about $6.5 billion of its data-center holdings, giving the alternative asset manager a potential vehicle to raise equity as artificial-intelligence infrastructure spending accelerates. The New York-based firm is considering an initial public offering followed by additional share sales to finance acquisitions and development, though the structure, valuation, IPO size and timing remain undecided. The portfolio would be identified at launch, unlike Blackstone's $2 billion blind-pool digital infrastructure trust, and would add a public-market channel alongside Blue Owl's private funds and direct investments. The plan, also previously reported by Odaily, comes as global data-center capital spending is forecast to rise from $421 billion last year to more than $1.2 trillion by 2028.