J.P. Morgan Securities

Meta, BlackRock announce $14 billion AI data center project in Texas

Meta and BlackRock announced a $14 billion AI data center campus in El Paso, Texas, with BlackRock taking an 80% ownership stake. This venture highlights the increasing investment in AI infrastructure, with tech giants seeking external capital for large-scale projects. The El Paso campus, already under construction, is expected to provide 1 gigawatt of compute capacity and begin operations in 2028.