Asset manager BlackRock is to take an 80 percent ownership stake in a major data centre that Facebook parent Meta has been building near El Paso, Texas, as tech companies increasingly look to Wall Street to fund their costly AI infrastructure projects.
The 1 gigawatt project, expected to cost around $14 billion (£10.5bn), is planned to become one of the US’ largest data centres.
M eta’s planned 1 GW data centre in El Paso, Texas, in March 2026, five months after groundbreaking. Image credit: Meta
Debt financing
The two companies said they would work together to develop and operate the 1,000-acre campus, which has been under construction for more than six months.
