Meta Seeks $13 Billion Financing for 1GW El Paso AI Data Center
Meta is arranging a roughly $13 billion financing package led by Morgan Stanley and JPMorgan to fund its 1-gigawatt El Paso AI data center, combining debt and equity after increasing its investment to over $10 billion. The facility is set to open in 2028, supporting 300 permanent and 4,000 peak construction jobs.
1. Financing Package Terms
Meta is arranging a $13 billion financing package for its El Paso AI data center, led by Morgan Stanley and JPMorgan Chase. The package is expected to consist mostly of debt with a minority equity component, following the company’s precedent from its Louisiana site financing last year.
2. Project Scope and Timeline
The El Paso campus has seen investment rise to over $10 billion and targets 1 gigawatt of power capacity. Construction completion is slated for 2028, with the facility projected to employ around 300 permanent staff and up to 4,000 peak construction workers.
3. Investor Implications and Market Reaction
Such large-scale debt raising underscores Meta’s aggressive AI infrastructure spending, which has contributed to a 7.5% year-to-date share decline. Analysts are weighing whether long-term returns from the new data center can offset increased leverage and capital costs.