Meta and Blackrock Collaborate on $14B El Paso Data Center Project
WHO:
Techmeme - Meta and BlackRock are the organizations involved in the venture.
WHAT:
Forbes - BlackRock will take an 80% ownership stake in the data center project, while Meta will own about 20%.
Forbes - Meta will contribute land and in-progress construction assets worth about $2.3 billion, and BlackRock will make a cash contribution of about $4.9 billion.
Forbes - Meta will receive a $1 billion distribution to align ownership in the project.
Techmeme - Meta and BlackRock are developing a 1GW data center campus.
Bloomberg Markets - BlackRock raised $12.5 billion of debt for the Meta data center project.
WHERE:
Techmeme - The data center campus is located in El Paso, Texas.
WHEN:
Techmeme - The data center is set to bring capacity online starting in 2028.
WHY:
Techmeme - The venture aims to finance the development and operation of the data center campus.
HOW:
Forbes - The deal represents a pioneering financing strategy that could reshape how Big Tech pays for AI infrastructure.
Bloomberg Markets - BlackRock completed a nearly week-long marketing process for the bond sale tied to the project.
(UPDATED July 29, 2026 07:55 UTC)
In a significant development, BlackRock will acquire an 80% ownership stake in a new data center project, while Meta will hold around 20%. Meta is set to contribute land and construction assets valued at approximately $2.3 billion, with BlackRock making a cash investment of about $4.9 billion, and Meta will also receive a $1 billion distribution to align ownership. This deal is being hailed as a pioneering financing strategy that could transform how Big Tech funds AI infrastructure.
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(UPDATED July 28, 2026 21:23 UTC)
Meta and BlackRock are teaming up to develop a massive one gigawatt data center campus in El Paso, Texas, with plans to bring capacity online starting in 2028. To finance this ambitious project, BlackRock has successfully raised $12.5 billion in debt, following a nearly week-long marketing process for the bond sale. This venture aims to support both the development and operation of the new data center, marking a significant investment in the tech infrastructure of the region.