META — Meta, BlackRock to jointly develop $14B AI data center campus in Texas

Meta Platforms and BlackRock have formed a joint venture to build and operate a $14 billion data center campus in El Paso, Texas, to support growing AI infrastructure needs. Under the agreement, funds managed by BlackRock will hold an 80% stake in the venture, while Meta will retain the remaining 20% ownership. The move highlights a trend of tech giants seeking external capital to fund the unprecedented scale of investment required for AI.