Meta to Partner with BlackRock to Invest Approximately $14 Billion in Developing Data Center with 1 Gigawatt Computing Power

BlockBeats News, July 28th, Meta Platforms (META.O) announced a strategic new project in partnership with BlackRock to develop a data center in El Paso. BlackRock will co-invest approximately $14 billion in development costs with Meta. The transaction is expected to be completed in the next few days, with the related capacity expected to come online in 2028.

Meta will contribute $2.3 billion in assets, while BlackRock will contribute $4.9 billion in cash upon closing. Meta will provide management services and become the primary exclusive user of the El Paso campus. The El Paso data center will have 1 gigawatt of computing power.