Meta and BlackRock form roughly US$14 billion AI data-centre venture

The El Paso campus is designed for one gigawatt of compute and is expected to begin bringing capacity online in 2028. BlackRock-managed funds will own 80% and Meta 20%; the structure includes approximately US$12.5 billion in debt financing and makes Meta the initial sole occupant.

Why it matters: Large-scale AI compute is becoming an infrastructure-finance asset class. The structure gives Meta capacity while sharing ownership and capital requirements.

Impact: Boards must assess long-term power, cooling, connectivity, lease and counterparty exposure alongside model strategy. Meta · a report