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 06:21 ET (10:21 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States