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.
24 Articles
24 Articles
(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, 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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