Blue Owl Capital's pullback from a major data center investment is raising eyebrows in financial markets. The firm has decided against backing a $10 billion Oracle data center deal, signaling a shift in their infrastructure investment strategy. This move comes amid broader scrutiny of mega-cap AI infrastructure plays and their long-term economics. The market didn't take it well—Blue Owl's shares dropped 2% in premarket trading, reflecting investor concerns about the firm's capital deployment and confidence in high-ticket infrastructure bets. The decision underscores growing caution among institutional players about committing huge capital to data center expansion, especially as the AI boom's sustainability remains uncertain. For the crypto and blockchain sector, this retreat signals broader institutional wariness about infrastructure overcapacity and the need for more disciplined capital allocation in tech-heavy verticals.