Meta Platforms and BlackRock announced a partnership to develop a data center campus in El Paso, Texas, at an estimated cost of approximately $14 billion. BlackRock-managed funds will hold an 80% stake in the venture, with Meta retaining the remaining 20%, backed by $12.5 billion in debt financing. Meta will contribute land and in-progress construction assets worth about $2.3 billion and receive a $1 billion distribution to align ownership stakes. The campus, already under construction, will provide 1 gigawatt of compute capacity and is expected to commence operations in 2028.
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