BlackRock Will Own 80% Of Meta's Massive New AI Data Center In El Paso - Forbes

What the report says

Forbes reported that BlackRock-managed funds are set to take an 80% ownership stake in Meta’s planned artificial intelligence data center campus in El Paso, Texas. The project is described as a $14 billion, one-gigawatt development on about 1,000 acres, and Forbes said it has already been under construction for more than six months. Meta and BlackRock announced the partnership Tuesday.

Under the agreement described by Forbes, Meta will put in land and construction assets already in progress valued at roughly $2.3 billion, while BlackRock will contribute about $4.9 billion in cash. Meta is also expected to receive a $1 billion distribution as part of the ownership alignment, leaving the company with about 20% of the project. Forbes framed the deal as a sign that large financial firms are becoming central backers of the infrastructure needed for the AI buildout.

The arrangement comes as investors scrutinize the cost of AI expansion. Forbes noted that Meta’s shares fell nearly 10% earlier this year, erasing about $175 billion in market value in one day, after the company raised its 2026 capital spending forecast. Meta Chief Financial Officer Susan Li linked the increase to higher memory-chip prices and added data center costs related to AI infrastructure.

Forbes also placed the BlackRock deal in a broader financing trend. Meta previously announced a similar structure with Blue Owl Capital for its Hyperion AI data center campus in Louisiana, while other technology and investment groups have formed ventures or funds to finance AI computing capacity across the United States.