Meta Platforms said on July 28 that it is partnering with BlackRock on a new strategic data center project in El Paso, with total development costs of about $14 billion. The companies said the deal is expected to close in the coming days, while the related capacity is scheduled to come online in 2028. Under the announced structure, Meta will contribute $2.3 billion in assets, and BlackRock will contribute $4.9 billion in cash at closing. Meta will also provide management services for the site and will serve as the first sole occupant of the El Paso campus. The facility is expected to deliver 1 gigawatt of computing capacity once operational. The announcement, cited by BlockBeats, outlines the funding split, the expected closing window, the target launch timeline and Meta’s role in operating and using the campus.
Meta Platforms said on July 28 that it is partnering with BlackRock on a new strategic data center project in El Paso, with development costs of about $14 billion.
The deal is expected to close in the coming days, and the related capacity is scheduled to come online in 2028. Meta will contribute $2.3 billion in assets, while BlackRock will contribute $4.9 billion in cash at closing.
Meta will provide management services and will be the first sole user of the El Paso campus. The data center is expected to have 1 gigawatt of computing capacity.
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