BlackRock is raising $12.3 billion in bonds to build a data center campus in El Paso, Texas, offering one gigawatt of power capacity, enough to supply approximately 750,000 homes. Meta is the anchor tenant of this project, called Project Sopaipilla Holdings, in which BlackRock holds an 80% stake and Meta the remaining 20%. JPMorgan Chase and Morgan Stanley are overseeing the bond sale. This operation comes as BlackRock completed a $40 billion acquisition of Aligned Data Centers, consolidating its position in artificial intelligence infrastructure. The financing model, which allows Meta to reduce capital expenditure while securing compute capacity, was previously used with Blue Owl Capital for a project in Louisiana.
Source: Read the original article
