July 28 : Meta Platforms and the world’s largest asset manager BlackRock on Tuesday announced a venture to develop and operate a data center campus in El Paso, Texas, a project that would cost about $14 billion in development.<\/p>\n
The race to build out AI infrastructure has prompted tech giants to turn to debt sales worth tens of billions of dollars or seek external capital from fund managers such as BlackRock due to an unprecedented scale of investment.<\/p>\n
Meta said BlackRock-managed funds will take an 80 per cent ownership stake in the venture, with Meta retaining the remaining 20 per cent.<\/p>\n
The Facebook-parent earlier said it was building an over $10 billion data center project in El Paso, near the Texas-New Mexico border, among 28 data centers it has in either operation or under construction in the U.S.<\/p>\n
Meta has said it plans to invest $600 billion to build data centers by 2028, with an aim to fast-track work on personal superintelligence, which could help spin up new cash flows from the Meta AI app, image-to-video ad tools and smart glasses.<\/p>\n
The social media giant is building several gigawatt-scale data centers across the U.S., including one in rural Louisiana, a project Meta expected to expand to 5 gigawatts of compute capacity, with investment increasing to more than $50 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"July 28 : Meta Platforms and the world’s largest asset manager BlackRock on Tuesday announced a venture to…\n","protected":false},"author":2,"featured_media":388891,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[138,140,139],"class_list":["post-388890","post","type-post","status-publish","format-standard","has-post-thumbnail","category-el-paso","tag-el-paso","tag-el-paso-headlines","tag-el-paso-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/388890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=388890"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/388890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/388891"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=388890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=388890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=388890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}