BlackRock to Own 80% of Meta’s New AI Data Center in El Paso
📡 Forbes Business · 1 min read ·
Part of composite article Tech Giants Bet Billions on Quantum “Hybrid” Chips—$175 Billion AI Wipeout Sparks New Strategy View full article →
Meta’s stock fell nearly 10% earlier this year, erasing $175 billion from its market value. The drop came after the company raised its forecast for AI infrastructure spending. Now, a new deal reveals where that money is going. BlackRock, the world’s largest asset manager, will own 80% of Meta’s massive new AI data center in El Paso, Texas. The facility is part of Meta’s push to expand computing power for artificial intelligence. The partnership helps Meta share the financial burden of building expensive data centers.