Meta and BlackRock Form a $14 Billion Joint Venture for a 1 GW AI Data Center in El Paso

Meta and BlackRock-managed funds announced a joint venture to build a 1 gigawatt data center campus in El Paso, Texas, with BlackRock taking an 80 percent stake and the facility expected online in 2028. The roughly $14 billion project will run Meta's AI models at scale, underpinned by $12.5 billion in debt financing.