BlackRock, Meta Platforms in $14 Billion Texas Data Center Venture

By Colin Kellaher

BlackRock and Meta Platforms are forming a venture to develop and own a $14 billion data-center campus in El Paso, Texas.

BlackRock, the world's largest investment firm, will own 80% of the venture, the companies said Tuesday, while Meta will own the remaining 20%.

The companies said they have committed to fund their respective pro-rata share of the roughly $14 billion in total development costs for the buildings and long-lived power, cooling and connectivity infrastructure at the campus, which is currently under construction and will have 1 gigawatt of compute capacity.

Meta will contribute the venture land and construction-in-progress assets valued at around $2.3 billion at closing, while BlackRock will make a $4.9 billion cash contribution, the companies said, with Meta receiving a $1 billion distribution to align ownership stakes in accordance with the 80-20 split.

BlackRock plans to fund a portion of its investment with proceeds its recent $12.5 billion debt financing.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

July 28, 2026 06:06 ET (10:06 GMT)