Meta Partners with BlackRock for $14B, 1-Gigawatt AI Data Center in El Paso.
Meta and BlackRock Form Joint Venture for $14 Billion Megawatt-Scale AI Data Center in El Paso Meta and global investment giant BlackRock have announced a strategic partnership to construct and manage a massive new AI data center in El Paso, Texas , with an estimated initial construction cost of $14 billion . The partnership is structured as a joint venture, with BlackRock holding an 80% majority stake and Meta retaining a 20% equity interest . Under the arrangement, Meta handles the initial land acquisition and site transactions before leasing back the completed compute infrastructure from the joint venture. By leveraging BlackRock as the primary capital provider, Meta significantly reduces its direct capital expenditure burden while securing long-term operational capacity. Designed to deliver approximately 1 gigawatt (1GW) of power capacity , the megawatt-scale facility will operate with Meta as its sole primary tenant. Construction and infrastructure deployment are scheduled ...