Meta moves its 1 GW El Paso campus into a BlackRock venture
Meta and BlackRock formed a roughly $14 billion venture for an El Paso data-center campus designed for 1 GW in 2028. BlackRock-managed funds will own 80%, Meta retains 20%, contributes land and construction assets, and leases the resulting compute capacity.
Why it matters: Hyperscalers are using outside capital and lease structures to keep building gigawatt-scale AI infrastructure while limiting direct ownership and upfront funding.