Meta and BlackRock Partner on El Paso Data Center Venture
Meta Platforms (NASDAQ: META) has partnered with BlackRock (NYSE: BLK), along with Global Infrastructure Partners and HPS Investment Partners, to develop a data center campus in El Paso, Texas. The venture aims to support Meta's AI ambitions by providing 1 gigawatt of compute capacity once operational in 2028. This partnership leverages Meta’s infrastructure expertise alongside BlackRock’s capital and investment capabilities. The project represents an over $10 billion investment from Meta, creating thousands of construction jobs during development and hundreds more for ongoing operations. The data center is also expected to boost local workforce training through initiatives like America's Workforce Academy and Future Builders by the BlackRock Foundation. Both companies emphasized their commitment to economic growth in El Paso. Meta will manage the site’s construction and operation, serving as its initial sole occupant upon completion.
Topics: AI development data centers infrastructure investment