BlackRock is set to own 80% of Meta’s huge new AI data center campus in El Paso, giving the asset manager a dominant stake in one of the largest artificial intelligence infrastructure projects in the United States. The development is described as a $14 billion project with capacity of about one gigawatt, highlighting the enormous scale of computing power being built for AI.
The deal also reflects how expensive the race to expand AI capacity has become. Meta has been increasing spending on the servers, chips and facilities needed to support its artificial intelligence ambitions, and that push has already unsettled investors at times.
Earlier this year, Meta shares fell by nearly 10% after the company raised its expected capital spending for AI infrastructure. That sell-off erased roughly $175 billion from the company’s market value, showing how closely Wall Street is watching whether massive AI investments will translate into future growth.
BlackRock’s planned majority ownership in the El Paso campus suggests large financial partners are playing a bigger role in funding the next wave of AI buildouts. For Meta, the arrangement points to a way to keep expanding data center capacity for AI while sharing the cost of a project that stands out for both its size and strategic importance.
