Meta, BlackRock Partner on $14 Billion El Paso Data Center
BlackRock-managed funds will own 80% of the campus, while Meta keeps 20% and leases the site as construction and debt financing expand.
- On Tuesday, Meta Platforms and BlackRock announced a venture to develop and operate a data center campus in El Paso, Texas, costing about $14 billion in development.
- Meta aims to scale AI infrastructure by pairing its operational expertise with BlackRock's capital investment capabilities, enabling faster data center development at greater scale.
- BlackRock-Managed funds will own an 80% stake in the venture while Meta retains 20% and leases the campus, with the project projected to create more than 4,000 construction jobs and 300 operational roles.
- "We're excited to partner with Mark and the Meta leadership team," BlackRock Chairman and CEO Larry Fink said, adding the project will create thousands of skilled jobs and drive local economic growth.
- Operations are expected to begin in 2028, with a nearly $30 million investment training more than 12,000 electricians over three years to support Texas infrastructure growth and data center development.
27 Articles
27 Articles
Meta announces strategic venture with BlackRock to develop Northeast El Paso data center
EL PASO, Texas (KVIA) -- Tuesday, Meta announced a venture to finance the development of a data center under construction in Northeast El Paso. According to a news release, the venture involves BlackRock, an asset management company. The news release said Meta spent more than 15 years developing, constructing and operating data centers. It said The post Meta announces strategic venture with BlackRock to develop Northeast El Paso data center appe…
(San Francisco = Yonhap News) Correspondent Kwon Young-jeon = Facebook operator Meta, together with the world's largest asset management firm BlackRock, [investigates] a $14 billion (approximately 20 trillion won) artificial intelligence...
Meta hands BlackRock 80% stake in $14B Texas data center venture
Meta Platforms and BlackRock have formed a joint venture to develop and own a massive AI-focused data center campus in El Paso, Texas. The project carries an estimated development cost of about $14 billion and will provide 1 gigawatt of computing capacity to support Meta’s growing artificial intelligence infrastructure. The companies expect to complete the transaction within days. The first computing capacity is scheduled to come online in 2028.…
Meta, BlackRock building US$14bn facility in Texas
Meta Platforms Inc and BlackRock Inc plan to build a 1-gigawatt data center in Texas that would cost about US$14 billion to develop, adding to a wave of investment in the computing hubs that power artificial intelligence (AI).The facility would go online in 2028 with Meta as the initial sole tenant,
The goal is to "bring Meta's AIA technologies to life and accelerate progress on models." $14 billion has been invested by the two American groups The American giant
Meta and BlackRock form a $14bn venture to build an El Paso AI data centre
Meta has folded its half-built El Paso data centre into a joint venture with BlackRock, formalising a structure that keeps most of a $14bn project off its own books. Under the agreement, funds managed by BlackRock will own 80% of the Texas campus and Meta the remaining 20%, though Meta stays on as the site’s […] This story continues at The Next Web
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