Meta and BlackRock Partner to Invest Approximately $14 Billion to Develop Data Center, Delivering 1 Gigawatt of Computing Power

July 28 - Meta Platforms (META.O) announced a strategic new project in collaboration with BlackRock to develop a data center in El Paso. BlackRock will co-invest approximately $14 billion in development costs with Meta. The transaction is expected to close in the next few days, with the related capacity expected to go online in 2028.

Meta will contribute $2.3 billion in assets, while BlackRock will contribute $4.9 billion in cash upon closing. Meta will provide management services and become the primary exclusive user of the El Paso campus, which will have 1 gigawatt of computing power.