Meta and BlackRock Announce El Paso Data Center
Meta and BlackRock have announced a venture to develop and own a data center campus in El Paso, Texas. Funds managed by BlackRock, together with Global Infrastructure Partners and HPS Investment Partners, will own an 80 percent interest in the venture, while Meta retains the remaining 20 percent. Both parties have committed to fund their pro rata share of approximately 14 billion dollars in total development costs for the buildings and the long-lived power, cooling and connectivity infrastructure at the campus. At financial close Meta contributes venture land and construction-in-progress assets valued at approximately 2.3 billion dollars, and BlackRock makes a cash contribution of approximately 4.9 billion dollars. The El Paso data center represents an investment of over 10 billion dollars from Meta. The campus, currently under construction, will have 1 gigawatt of compute capacity, and Meta will be the initial sole occupant upon completion. The venture expects to begin bringing capacity online in 2028. Meta says the project supports more than 4,000 construction jobs at peak and 300 operational jobs once complete, with over 2,300 workers already onsite. Mark Zuckerberg said building the infrastructure for superintelligence is key to making sure the benefits of this technology are distributed to everyone, and that the partnership allows Meta to move faster and at greater scale.
Transcript
Meta just announced a strategic venture with BlackRock to develop and own a data center campus in El Paso, Texas.
Funds managed by BlackRock will own eighty percent of the venture, and Meta retains twenty percent. Both parties fund their share of about fourteen billion dollars in development costs.
Meta is investing over ten billion dollars and will be the initial sole occupant. The campus will have one gigawatt of compute capacity, coming online starting in 2028.
More than four thousand construction jobs are expected at peak, and three hundred operational jobs. Zuckerberg says the partnership allows Meta to move faster and at greater scale.
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Sources
Every claim in this video comes from the top ranking coverage of this topic. The claims and where each one came from:
- Meta and BlackRock announced a venture to develop and own a data center campus in El Paso, Texas, with BlackRock selected following a highly competitive process.(Meta official announcement)
- Funds managed by BlackRock will own an 80% interest in the venture, and Meta retains the remaining 20% ownership.(Meta official announcement)
- The parties committed to fund their pro rata share of approximately $14 billion in total development costs for the buildings and long-lived power, cooling and connectivity infrastructure.(Meta official announcement)
- The El Paso data center represents an investment of over $10 billion from Meta.(Meta official announcement)
- The campus is currently under construction in El Paso, Texas, and will have 1 gigawatt of compute capacity, and the venture expects to begin bringing this capacity online in 2028.(Meta official announcement)
- Meta will provide construction management, administrative and property management services, and will be the initial sole occupant of the campus upon completion.(Meta official announcement)
- The project is expected to support more than 4,000 construction jobs at peak and 300 operational jobs once complete, with over 2,300 workers already onsite.(Meta official announcement)
- Mark Zuckerberg said building the infrastructure for superintelligence is key to making sure the benefits of this technology are distributed to everyone, and that the partnership allows Meta to move faster and at greater scale.(Meta official announcement)