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Meta and BlackRock announced joint venture to develop AI data center campus in El Paso, Texas. BlackRock-managed funds commit ~$14B for 80% ownership; Meta takes 20% and signs long-term lease (4-year initial + 4 renewal options for up to 20-year duration).
$14B hyperscaler-institutional investor partnership validates sustained AI compute demand and establishes precedent for external capital financing datacenter infrastructure.
Trade pressSlicast · July 28, 2026 · US · Source: Google News
importance 95Meta and BlackRock announced joint venture to develop AI data center campus in El Paso, Texas. BlackRock-managed funds commit ~$14B for 80% ownership; Meta takes 20% and signs long-term lease (4-year initial + 4 renewal options for up to 20-year duration).
$14B hyperscaler-institutional investor partnership validates sustained AI compute demand and establishes precedent for external capital financing datacenter infrastructure.