Meta-BlackRock $14B El Paso Data Center Venture
Analysis based on 45 articles · First reported Jul 28, 2026 · Last updated Jul 28, 2026
The venture signals strong institutional demand for AI infrastructure financing, potentially easing investor concerns about Meta's capital expenditure. BlackRock's involvement provides a template for large-scale data center investments, which could boost sentiment for infrastructure and tech stocks.
Meta Platforms and BlackRock announced a venture to develop and own a $14 billion data center campus in United States — El Paso, Texas. BlackRock-managed funds will hold an 80% ownership stake, with Meta retaining 20%. Meta will contribute land and construction-in-progress assets valued at $2.3 billion, while BlackRock will make a $4.9 billion cash contribution. Meta will receive a $1 billion distribution to align ownership. BlackRock will fund part of its investment with $12.5 billion in debt. The campus, already under construction, will have 1 gigawatt of compute capacity and is expected to begin operations in 2028. Meta will be the sole occupant under a lease with a four-year initial term and options to extend up to 20 years. The venture is part of Meta's broader plan to invest $600 billion in data centers by 2028. Morgan Stanley and J.P. Morgan served as financial advisors to Meta.
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