Meta announces El Paso data-center venture with BlackRock

Meta announced a venture with BlackRock, through Global Infrastructure Partners and HPS Investment Partners, to develop and own a 1 GW data-center campus in El Paso, Texas. Funds managed by BlackRock would own 80% and Meta 20%. Meta reported approximately $14 billion of total development costs and expected the campus to come online in 2028. The July 28 announcement anticipated closing in the coming days; it did not confirm a completed transaction.