Meta and BlackRock team up on $14B data center in El Paso, signaling Wall Street’s deepening bet on AI infrastructure

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Meta and BlackRock have established a $14 billion joint venture to develop an AI data center in El Paso. Under this agreement, BlackRock funds will own 80% of the Texas campus, while Meta retains 20% ownership. This structure allows Meta to keep most of the project off its books. The partnership reflects Wall Street's strategic investment in AI infrastructure, although Moody’s indicates that Meta stock faces risks associated with this specific venture.
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