Meta and BlackRock form a $14bn venture to build an El Paso AI data centre
THE SO WHAT
A $14B El Paso campus where BlackRock owns 80% and Meta 20% — with Meta as anchor tenant — is the clearest signal yet that hyperscale AI data centers are becoming infrastructure assets financed like power plants. If you’re planning large AI footprints, expect more off-balance-sheet JV structures and start treating infra partners as long-term capital collaborators, not just landlords.
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