Meta, BlackRock Invest $14B in El Paso AI Campus

Meta Platforms and BlackRock are partnering to build a $14 billion AI data center campus in El Paso, Texas, expected to come online in 2028. BlackRock will hold an 80% stake after investing $4.9 billion plus a $1 billion payment to Meta, while Meta contributes $2.3 billion in physical assets and retains 20% ownership as the site's sole user. The campus will deliver 1 gigawatt of AI-optimized computing capacity, matching Meta's other large-scale data center projects in Ohio, Indiana, and Canada. Its higher $14 billion budget compared to those sites suggests a more advanced design, possibly tied to a cloud infrastructure business Meta is reportedly developing.