The partnership will fund a 1-gigawatt AI data center campus set to begin operations in 2028, with BlackRock owning 80% of the venture.
Meta Platforms and BlackRock have formed a joint venture to develop a $14 billion artificial intelligence data center campus in El Paso, Texas. The facility, expected to provide 1 gigawatt of compute capacity, is slated to begin operations in 2028 and will be fully leased by Meta upon completion.
BlackRock will own 80% of the venture, contributing $4.9 billion in initial cash, while Meta retains a 20% stake and provides land and construction-in-progress assets valued at $2.3 billion. The project includes long-lived power, cooling, and connectivity infrastructure to support Meta’s AI expansion.
Meta will serve as the sole occupant and manage construction, administrative, and property services for the campus. The partnership aims to accelerate Meta’s AI infrastructure development, according to CEO Mark Zuckerberg.