Meta Platforms and BlackRock plan to build a 1 gigawatt data center complex in El Paso, Texas, with a total investment of about $14 billion to support artificial intelligence (AI) systems.
Meta will be the sole tenant initially when the location opens in 2028.
Funds managed by BlackRock will own 80% of the venture, while Meta will hold the remaining 20%.
Meta will contribute land and other assets worth approximately $2.3 billion and receive a one-time payment of $1 billion, while BlackRock will contribute approximately $4.9 billion in cash. Development costs do not include AI chips.
With a capacity of 1 GW, this project will be among the largest AI data center complexes under construction today.
According to city documents, the site is about 1,000 acres and can be built without a zoning change permit.
The electricity problem is still difficult. El Paso Electric has about 2,800 MW of generating capacity and has proposed building an adjacent 366-megawatt gas plant to help meet Meta’s faster-than-expected increase in power demand.
The deal is also in line with overall AI infrastructure spending trends.
Meta said 2026 capital spending could reach $135 billion, while BlackRock last year launched an AI infrastructure investment partnership focused on data centers and energy assets.
Lesson: Navigator Media
