Meta and BlackRock announced a partnership to build a 14 billion dollar data center campus in El Paso, Texas. BlackRock will hold an 80% stake in the project, contributing 4.9 billion dollars in equity and leading 12.5 billion dollars in debt financing. Meta will retain 20% of the campus, contributing 2.3 billion dollars in land and assets while receiving a 1 billion dollar distribution. The campus will deliver 1 gigawatt of computing capacity and is expected to become operational in 2028. This deal aligns with Meta’s commitment to spend 600 billion dollars on data centers by 2028.
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