financing agreement
Meta and BlackRock announce an El Paso property venture
The partners announced financing for an AI campus already under construction. Meta would manage the property and be its initial sole occupant.
1 GWPlanned compute capacityplanned compute capacityEl Paso campusstatedMeta ↗
≈$14BDevelopment cost commitmentcommitted development costBuildings and long-lived power, cooling and connectivity infrastructureapproximatelyMeta ↗
Sources and context
Closing was expected after the announcement and has not been verified. BlackRock-managed funds would own 80%; Meta would own 20%. Opening was targeted for 2028. Debt, equity, distributions and guarantees overlap with the development costs; they cannot be added as separate project spending.