Meta and BlackRock announce a joint venture to develop a data center campus in El Paso, Texas, in a project valued at about $14 billion, according to multiple reports. The venture is structured so that BlackRock-managed funds hold the majority stake, while Meta holds a minority position. The Globe and Mail reports BlackRock-managed funds take an 80% ownership stake, with Meta retaining 20%. Other outlets similarly describe the partnership and the project’s scale, framing it as part of the broader buildout of AI and cloud infrastructure by major technology firms.
The Express Tribune links the development to competition to expand AI infrastructure and notes that large investors and technology companies raise substantial capital, including through debt and equity financing, to fund data center growth. Across the coverage, the companies’ collaboration is presented as a major step toward expanding computing capacity in the United States, with ownership and investment participation distributed between BlackRock’s funds and Meta.
