Meta Platforms and BlackRock plan to build a 1-gigawatt data center complex in El Paso, Texas, for about US$14 billion to support AI systems.

Meta will be the initial sole tenant when the site opens in 2028.

Funds managed by BlackRock will own 80% of the joint venture, while Meta will hold the remaining 20%.

Meta will contribute land and other assets valued at about US$2.3 billion and receive a one-time payment of US$1 billion, while BlackRock will contribute about US$4.9 billion in cash.

The development cost excludes AI chips.

At 1 GW, the project would be among the largest AI data center campuses now being built.

City materials show the site spans about 1,000 acres and can proceed without zoning variances.

Power remains an issue. El Paso Electric has about 2,800 MW of generation capacity and has proposed a colocated 366-megawatt gas plant to help meet Meta’s faster-than-expected power demand.

The deal also fits into broader AI infrastructure spending.

Meta said 2026 capital expenditure could reach US$135 billion, while BlackRock last year launched an AI infrastructure investment partnership focused on data centers and power assets.

🔗 Source: Bloomberg