Meta and BlackRock commit 14B to AI

Meta and BlackRock announced the formation of a joint venture valued at $14 billion to build a data center complex with a capacity of 1 gigawatt in Texas, which is expected to begin operations in 2028. In the initial phase, Meta will lease 20% of the site, while BlackRock will own 80%. The project aims to support AI applications, particularly within the Meta Compute initiative, and companies' investments in their computing infrastructure amid the rapid expansion of data center industry and the growing demand for advanced computing capabilities. This investment is part of major tech companies' efforts to strengthen their presence in the artificial intelligence market by pouring billions of dollars into infrastructure development, financed through a mix of equity, debt, and sovereign wealth funds.

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