Meta and BlackRock will invest $14 billion in the construction of an AI data center
Meta and BlackRock are investing approximately $14 billion to construct a new 1-gigawatt AI data center complex in El Paso, Texas. The facility is expected to launch in 2028, with Meta as the sole tenant. This project is part of Meta's broader initiative to develop AI infrastructure.
Meta Platforms and BlackRock are partnering on a new 1-gigawatt AI data center complex in El Paso, Texas, with a joint investment of approximately $14 billion. The facility, scheduled for a 2028 launch, will be exclusively tenanted by Meta and is designed to support the increasing demand for computing power for modern AI systems.
The joint venture sees funds managed by BlackRock holding an 80% ownership stake, while Meta retains 20%. Meta will contribute land and other assets valued at about $2.3 billion, receiving a $1 billion one-time payment, and will enter a four-year lease for the facility with an extension option. BlackRock's cash contribution is approximately $4.9 billion, partially financed through a $12.5 billion bond issuance. This project is a key component of Meta's Compute initiative, which focuses on building AI infrastructure and offering access to surplus computing power, allowing the company to accelerate its AI development efforts.