Meta Platforms and BlackRock are setting up a joint venture to build and operate a large data center campus in Texas, aimed at supporting artificial-intelligence computing demand. Bloomberg reports that the companies plan to establish a venture in Texas as part of broader investment activity in data-center “computing hubs” used for AI workloads. Quartz and The Next Web add further deal terms: the venture is described as a $14 billion project, with BlackRock-managed funds holding a majority ownership stake of 80% and Meta holding 20%. Under the structure described by Quartz, Meta leases back the entire campus, allowing it to operate on the capacity without owning the full asset. The Next Web also reports that Meta incorporates an existing, partially built data center project in El Paso into the joint venture, formalizing the arrangement so that most of the spending is held through BlackRock-managed funds rather than on Meta’s books. Across the coverage, all sources describe a joint build-and-operate model in Texas, with BlackRock as the controlling investor and Meta as the primary customer of the resulting capacity.