Meta and BlackRock Partner on $14 Billion Data Center Project in Texas
Meta Platforms (META) has partnered with asset manager BlackRock (BLK) to develop a large-scale data center campus in El Paso, Texas. The joint venture will see funds managed by BlackRock take an 80% stake in the project while Meta retains ownership of the remaining 20%. The facility is expected to be powered by renewable energy and support Meta's growing cloud infrastructure needs. The $14 billion investment underscores a broader trend among tech companies seeking long-term partnerships with institutional investors for large capital expenditures. BlackRock, one of the world’s largest asset managers, will provide financing through its real estate arm, while Meta benefits from reduced upfront costs and access to scalable data center capacity in a key U.S. market. This collaboration highlights increasing convergence between technology infrastructure development and traditional investment strategies.
Topics: BlackRock Data Centers Infrastructure Investment Meta Platforms