Meta Platforms and BlackRock announced a joint venture Tuesday to develop a data-center campus in El Paso, Texas [1].
The project represents a massive infrastructure bet on the scaling of artificial intelligence, combining Meta's technical requirements with BlackRock's capital management. The venture aims to support intensive AI workloads while providing economic benefits to the region [2].
The estimated cost for the development of the campus is $14 billion [1]. The facility is designed to have a planned capacity of 1 GW [3]. According to the partnership terms, BlackRock will hold an 80% ownership stake in the venture, while Meta will hold 20% [3].
Reports indicate the campus will be located in El Paso, with some sources specifying the site as Northeast El Paso [4]. The infrastructure is expected to be online by 2028 [3].
This strategic partnership allows Meta to expand its computing power without bearing the full weight of the capital expenditure on its own balance sheet. By leveraging BlackRock's investment capacity, Meta secures the physical infrastructure necessary to train and deploy next-generation AI models. The scale of the 1 GW campus underscores the increasing energy and space demands of modern AI development, a trend that is pushing tech firms toward large-scale industrial partnerships.
“The estimated cost for the development of the campus is $14 billion.”
This venture signals a shift in how AI infrastructure is financed, moving from traditional corporate spending to joint investment vehicles. By partnering with a global asset manager like BlackRock, Meta is treating data centers as critical infrastructure assets rather than simple corporate real estate, potentially creating a blueprint for other tech giants to scale their AI capabilities rapidly.
