Meta and BlackRock launch $14 billion project to develop data center complex

Meta Platforms and BlackRock have launched a joint venture to develop a data center complex in Texas, with total investments of approximately $14 billion, as part of efforts to accelerate the US tech giant’s expansion of artificial intelligence infrastructure.

Under the agreement announced today, BlackRock-managed funds will hold an 80% stake in the project, while Meta will retain a 20% share. The complex will include the energy, cooling, and communications infrastructure necessary to operate the data centers.

The facility will have a computing capacity of 1 gigawatt and is expected to begin operations in 2028, with Meta serving as the first tenant upon completion to support the development of AI models and bolster its core business.

In a statement, Meta CEO Mark Zuckerberg said that the infrastructure required to develop AI technologies is essential to ensuring their accessibility to all, adding that the partnership with BlackRock will enable the company to scale up its operations.