Under the deal to finance the $14bn data centre near El Paso, BlackRock will end up owning 80 percent of the 1 GW project

Meta stock plummeted almost 10% earlier this year—wiping $175 billion from its market cap—after the company hiked its expected capital spending for AI infrastructure.

Meta and BlackRock announce a venture to finance the development and operation of a data center campus in El Paso, Texas.

Meta Platforms and BlackRock are developing a $14 billion data center campus in El Paso, Texas. BlackRock-managed funds will own eighty percent of the venture, and Meta retains…