Meta and BlackRock Announce Joint Development of $14 Billion Data Center in Texas

Corporate ActionM&A · Partnership Impact 4
โดย Reuters·Read original
Summary · why it matters

Meta Platforms and BlackRock have announced a joint venture to develop and operate a cluster of data centers in El Paso, Texas. The development cost is expected to be around $14 billion, with a fund managed by BlackRock acquiring an 80% stake in the joint venture and Meta holding the remaining 20%. A portion of BlackRock's investment will be funded by $12.5 billion in debt, and Meta will receive a $1 billion distribution as part of the equity adjustment. Meta will contribute land and assets under construction worth approximately $2.3 billion, while BlackRock will invest about $4.9 billion in cash. Meta is advancing a data center project in El Paso with an investment exceeding $10 billion, which is expected to have one gigawatt of computing capacity and begin operations in 2028.

Impact on stocks 2

Artificial Intelligence▲ · 1 stocks
Meta Platforms Inc.
META
▲ PositiveCapitalrelevance

Meta advances its $10B+ data center project, receives $1B distribution, and retains 20% stake in the JV.

Digital Finance & Tokenization▲ · 1 stocks
BlackRock Inc
BLK
▲ PositiveCapitalrelevance

BlackRock's fund acquires 80% stake in a $14B data center JV, deploying $4.9B cash and earning management fees.

Theme Impact 6

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