BlackRock seeks over $12B in bonds for Meta AI data center in Texas
BlackRock is raising more than $12 billion in bonds to finance a Meta Platforms AI data center campus in El Paso, Texas, through a joint venture where BlackRock holds 80% and Meta 20%. The debt, managed by JPMorgan and Morgan Stanley, is issued via a project-specific holding company to keep liabilities off Meta’s balance sheet. However, weaker-than-expected demand emerged amid a broader sell-off in AI-related debt, signaling investor caution about the sustainability of massive AI infrastructure spending.
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Meta and BlackRock Form $14 Billion Venture for Texas AI Data Center
Meta Platforms and BlackRock announced a $14 billion joint venture to build a 1-gigawatt AI data center in El Paso, Texas. Under the deal, BlackRock-managed funds will own 80% of the venture, while Meta will lease the campus once construction is completed in 2028. Meta will contribute land and construction-in-progress assets worth about $2.3 billion and receive a $1 billion payout to balance ownership. BlackRock will add $4.9 billion in cash, with an additional $12.5 billion in debt financing covering the rest. Meta signed an initial four-year lease with options extending to 20 years and agreed to cover a potential shortfall up to $13 billion if campus value falls. The deal shifts infrastructure costs off Meta's balance sheet amid investor concerns over rising AI capital spending. The venture is part of a broader industry trend toward private capital funding data center buildouts. Meta's stock traded near $593 ahead of its Q2 earnings report.
Meta and BlackRock Form $14 Billion AI Data Center Venture to Ease Meta's AI Buildout Costs
Meta Platforms and BlackRock announced a $14 billion joint venture to develop and operate a one gigawatt AI data center campus in El Paso, Texas. Under the deal, BlackRock-managed funds will hold an 80% ownership stake, while Meta retains 20%. Meta will contribute land and construction assets worth $2.3 billion, and BlackRock will make a $4.9 billion cash contribution, partly financed through $12.5 billion in debt. Meta will lease the entire campus under an initial four-year agreement with options to extend up to 20 years. The venture aims to reduce Meta's near-term cash funding requirements and spread financial risk, as Meta's 2026 capital expenditure is projected between $125 billion and $145 billion. The campus is expected to come online in 2028. While the deal does not make AI infrastructure cheaper, it makes Meta's spending program financially manageable by preserving cash for AI chips and technical talent.
Meta and BlackRock Form $14 Billion AI Data Center Venture to Ease Meta's AI Buildout Costs
Meta Platforms and asset manager BlackRock announced a joint venture on July 28 to develop and operate a one gigawatt AI data center campus in El Paso, Texas, costing approximately $14 billion. Under the deal, BlackRock-managed funds will hold an 80% ownership stake, while Meta retains 20%. Meta will contribute land and in-progress construction assets worth about $2.3 billion, and BlackRock will make a cash contribution of about $4.9 billion, with $12.5 billion in debt financing. Meta will lease the entire campus under an initial four-year agreement with options to extend up to 20 years. The venture allows Meta to secure computing capacity without directly funding and owning the entire campus, preserving cash for AI chips and talent. The El Paso campus is expected to come online in 2028. While the deal does not make AI infrastructure cheaper, it makes Meta's spending program financially manageable by spreading risk and reducing near-term cash requirements.
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Meta and BlackRock form $14 billion joint venture for AI data center campus in Texas
Meta Platforms and BlackRock have announced a $14 billion joint venture to develop and operate a large-scale artificial intelligence data center campus in El Paso, Texas. The campus, currently under construction, is expected to provide 1 gigawatt of compute capacity when it begins operations in 2028. Under the agreement, BlackRock-managed funds will hold an 80% stake, while Meta retains 20%. BlackRock will contribute approximately $4.9 billion in cash, and Meta will contribute land and construction assets valued at about $2.3 billion. Meta will lease and be the sole occupant of the campus, providing construction and property management services. The project is expected to create over 4,000 construction jobs and 300 permanent operational jobs. Meta is also providing a $500,000 grant to local schools for STEM and skilled trades education. The venture aims to accelerate Meta's AI infrastructure expansion, with initial capacity deployment targeted for 2028.
Meta and BlackRock form $14 billion joint venture for AI data center campus in Texas
Meta Platforms and BlackRock have announced a $14 billion joint venture to develop and operate a large-scale artificial intelligence data center campus in El Paso, Texas. The campus, currently under construction, is expected to provide 1 gigawatt of compute capacity when it begins operations in 2028. Under the agreement, BlackRock-managed funds will hold an 80% stake, while Meta retains 20%. Meta will contribute land and construction assets valued at about $2.3 billion, and BlackRock will make an initial cash contribution of approximately $4.9 billion, partly funded by $12.5 billion in debt financing. Meta will lease and be the sole occupant of the campus, providing management services. The project is expected to create over 4,000 construction jobs and 300 permanent operational jobs. Meta also committed $500,000 to local STEM education. The venture aims to accelerate Meta's AI infrastructure expansion.
Meta and BlackRock form $14 billion venture for 1-gigawatt El Paso AI campus
Meta and BlackRock announced a joint venture on July 28, 2026, to build and own a 1-gigawatt data center campus in El Paso, Texas, with an estimated cost of $14 billion. Funds managed by BlackRock will own 80% of the venture, while Meta retains 20% and will be the initial sole occupant, leasing the entire campus. The project is already under construction, with over 2,300 workers onsite, and is expected to begin operations in 2028. BlackRock raised $12.5 billion in debt through JPMorgan Chase and Morgan Stanley to fund its portion. The campus will require dedicated power, with El Paso Electric seeking approval for a 366-megawatt natural gas facility to serve as an interim power source. Meta has committed to matching the campus's consumption with 100% clean and renewable energy. Meta CEO Mark Zuckerberg tied the partnership to accelerating AI infrastructure development.
Meta and BlackRock form $14 billion El Paso data center venture
Meta Platforms and BlackRock announced a joint venture to develop and own a data center campus in El Paso, Texas, with total development costs of approximately $14 billion. Under the agreement, BlackRock-managed funds will hold an 80% stake, while Meta retains 20%. Meta will contribute land and partially built assets worth $2.3 billion, and BlackRock will invest roughly $4.9 billion in cash, with a portion funded through $12.5 billion in debt financing. The facility will deliver 1 gigawatt of compute capacity, with Meta as the sole occupant upon completion expected in 2028. Meta will lease the entire campus under a four-year initial term with extension options up to 20 years. The project supports over 4,000 construction jobs and 300 operational jobs. The deal follows a similar structure to Meta's Louisiana data center project. Meta has committed $600 billion to data center construction through 2028.
Meta and BlackRock form $14 billion El Paso data center venture
Meta Platforms and BlackRock announced a joint venture to develop and own a data center campus in El Paso, Texas, with total development costs of approximately $14 billion. Under the agreement, funds managed by BlackRock will control 80% of the venture, with Meta keeping the remaining 20% stake. Meta will transfer land and partially built construction assets worth around $2.3 billion into the venture, while BlackRock is set to invest roughly $4.9 billion in cash. Meta will also receive a one-time distribution of approximately $1 billion to align ownership stakes. The facility will deliver 1 gigawatt of compute capacity when finished, with Meta as the sole occupant upon completion expected in 2028. Meta will enter into lease agreements with the venture for a potential 20-year period. The deal follows a similar structure to a previous arrangement in Louisiana. Meta has publicly committed to spending $600 billion on data center construction through 2028.
Meta and BlackRock Partner on $14 Billion El Paso Data Center
Meta Platforms and BlackRock, the world's largest asset manager, announced a joint venture on July 28, 2026, to develop and operate a data center campus in El Paso, Texas, with an estimated development cost of $14 billion. BlackRock-managed funds will hold an 80% ownership stake, while Meta retains 20%. The partnership reflects the massive capital demands of AI infrastructure, prompting tech giants to seek external funding. Meta previously disclosed plans for an over $10 billion data center in El Paso and aims to invest $600 billion in data centers by 2028 to advance personal superintelligence, Meta AI, and related products. The company is also building gigawatt-scale facilities across the U.S., including a $50 billion project in Louisiana.
BlackRock raises US$12.5 billion of debt for Meta data centre
BlackRock has successfully raised US$12.5 billion in debt financing for a Meta data centre project. The 2048 note was sold at a yield premium of 2.875 percentage points over 10-year Treasury yields, according to a source. The proceeds will fund the construction of a data centre campus in El Paso, Texas, which is expected to provide up to one gigawatt of computing capacity, primarily for artificial intelligence workloads. The transaction was reported by The Business Times Singapore on July 28, 2026.
BlackRock raises US$12.5 billion of debt for Meta data centre
BlackRock has successfully raised US$12.5 billion in debt financing for Meta's data centre project. The 2048 note was sold at a yield premium of 2.875 percentage points over 10-year Treasury yields, according to a source. The proceeds will be used to fund a data centre campus in El Paso, Texas, which is expected to provide up to one gigawatt of computing capacity, primarily for artificial intelligence workloads. The article was published by The Business Times Singapore on July 28, 2026.
BlackRock sees weak demand for Meta data centre bond sale after AI debt sell-off
BlackRock has experienced weaker-than-expected demand for a corporate bond sale linked to a Meta Platforms data centre project in Texas. The soft demand follows a broader sell-off in AI-related debt, reflecting investor caution amid recent volatility in the technology and artificial intelligence sectors. The bond sale, which is part of financing for Meta's infrastructure expansion, struggled to attract typical levels of interest, signaling potential headwinds for AI-linked financing. The development highlights growing market skepticism about the pace of AI investment returns and the sustainability of debt-fueled tech expansion. The article, published by The Business Times on July 25, 2026, notes that the subdued reception contrasts with previous strong demand for similar offerings, suggesting a shift in investor sentiment toward AI-exposed assets.
BlackRock Faces Soft Demand for Bond Sale After AI Debt Sell-Off
BlackRock has experienced weaker-than-expected demand for a corporate bond sale linked to a Meta Platforms data centre project in Texas. The subdued interest comes in the wake of a broader sell-off in AI-related debt, reflecting investor caution in the sector. The bond issuance, tied to infrastructure for Meta's expanding data centre operations, faced headwinds as market sentiment turned wary following recent volatility in AI-linked securities. The development signals potential cooling in the once-hot market for financing AI and tech infrastructure projects, with investors reassessing risk amid shifting macroeconomic conditions and sector-specific concerns.
BlackRock raises $12B+ in bonds for Meta AI data center in Texas
BlackRock is raising over $12 billion in bonds to finance a Meta Platforms AI data center campus in El Paso, Texas, positioning itself as a lender rather than a builder in the AI infrastructure buildout. The debt is issued through a project-specific holding company (Project Sopaipilla Holdings), keeping it off BlackRock's corporate balance sheet and protecting shareholders from direct risk. BlackRock funds hold an 80% stake, while Meta owns 20% and serves as the anchor tenant. The move underscores BlackRock's strategy to generate recurring fees from private-market infrastructure assets, as its assets under management hit a record $15.34 trillion in Q2 2026, with private markets pulling in $15.4 billion in net inflows. The deal signals BlackRock's role as a financier for tech giants seeking AI capacity without loading their own balance sheets with debt.
BlackRock raising $12 billion in bonds for Meta Texas data center
BlackRock is seeking to sell more than $12 billion in bonds to help finance a Meta Platforms data center campus in El Paso, Texas. The bond issuer is a holding company tied to BlackRock's 80% ownership position in Project Sopaipilla Holdings, with Meta accounting for the other 20%. JPMorgan Chase and Morgan Stanley are managing the offering, with bonds expected to be priced next week. The campus is expected to reach roughly 1 gigawatt of capacity and come online in 2028, supporting more than 300 on-site jobs. The El Paso arrangement follows the same template Meta applied in Louisiana, where a joint venture split 80-20 between a private-credit firm and Meta issued the debt, allowing Meta to keep liabilities off its own books. Separately, Meta has agreed to lease a large data center project in Pennsylvania backed by BlackRock's Aligned Data Centers. The financing adds to a broader wave of debt issuance tied to AI infrastructure, with large technology companies expected to spend roughly $5.5 trillion on AI through 2030.
BlackRock eyes more than US$12 billion debt for Texas data centre
BlackRock is planning to sell over US$12 billion in bonds to finance a data center campus in El Paso, Texas. This represents one of the largest debt deals tied to the growing demand for artificial intelligence infrastructure. The financing is part of a broader trend where major asset managers and tech companies are raising massive capital to build data centers to support AI workloads. The El Paso campus is expected to be a significant facility, reflecting the scale of investment required for next-generation computing. The bond sale would be among the largest corporate debt offerings for a single project, highlighting the capital-intensive nature of AI infrastructure development.
BlackRock eyes more than US$12 billion debt for Texas data centre
BlackRock is planning to sell over US$12 billion in bonds to finance a data centre campus in El Paso, Texas. This move is part of a broader trend of large debt deals funding massive investments in artificial intelligence infrastructure by tech companies. The article, published by The Business Times on July 20, 2026, highlights the scale of capital being raised to support the growing demand for AI computing power.