Meta, BlackRock partner on $14B El Paso AI campus
Business
Meta and BlackRock are joining forces to build a massive $14 billion data center in El Paso, Texas.
This huge campus will power Meta's AI projects with 1 gigawatt of computing muscle and is set to go live by 2028.
BlackRock 80% owner Meta 20% stake
BlackRock's funds will own 80% of the project, putting in $4.9 billion in cash (with some help from $12.5 billion in debt), while Meta gets a 20% stake by contributing land and assets worth $2.3 billion.
This new site is part of Meta's bigger plan to spend big, $600 billion, on AI-ready data centers across the US by 2028.