Meta, BlackRock partner on $14 billion El Paso data center

Meta said BlackRock-managed funds will take an 80% ownership stake in the venture, with Meta retaining the remaining 20%. A portion of BlackRock's investment will be financed through $12.5 billion in debt. Meta will also receive a $1 billion distribution to align ownership.

Meta will contribute land and in-progress construction assets worth about $2.3 billion, while BlackRock will make a cash contribution of about $4.9 billion, the company said.

The Facebook-parent earlier said it was building an over $10 billion data center project in El Paso, near the Texas-New Mexico border, among data centers it has in either operation or under construction in the U.S.