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).
Meta and BlackRock have formed a joint venture to develop a $14 billion data center campus in El Paso, Texas, designed to support Meta’s artificial intelligence ambitions with 1 gigawatt of compute capacity. Meta will manage construction and operations, while BlackRock and its partners will provide capital and infrastructure expertise. The project will create more than 4,000 construction jobs and 300 permanent roles, with operations expected to begin in 2028. This partnership accelerates AI infrastructure development and supports local economic growth through workforce training and community grants.
Jim Cramer recently characterized the Magnificent Seven tech stocks—Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla—as a generational buying opportunity, arguing they remain undervalued due to heavy AI infrastructure spending. He believes this capital investment cycle validates their long-term strategic positioning. Meta Platforms, Inc. has also launched its Muse Spark 1.3 AI model, which significantly narrows the performance and token efficiency gap with leading models from Anthropic and OpenAI. The release strengthens Meta’s AI strategy by improving token utilization and overall model efficiency.
The Schwab U.S. Large-Cap Growth ETF (SCHG) has lagged broader growth and market ETFs in 2026 due to its heavy concentration in just three technology giants—NVIDIA, Apple, and Microsoft—which comprise nearly a third of its holdings. Despite being marketed as a diversified large-cap growth fund, this concentration has constrained its performance. Goldman Sachs similarly notes that the AI capital spending cycle remains in its early stages, driven by a structural shift from consumer-led to corporate capex-led growth in the U.S. economy. While stocks like NVIDIA led earlier market gains, leadership is now rotating across the sector as the industry enters its next growth phase.
Meta—the parent company of Facebook and Instagram—has agreed to an $18 billion settlement following accusations from U.S. states that its platforms harm children through addictive design features. The agreement imposes strict restrictions on teen accounts, including time limits and usage controls, aimed at mitigating psychological harm and promoting safer platform engagement.