Meta Announces New Strategic Venture with BlackRock to Develop Data Center in El Paso

MENLO PARK, Calif. and NEW YORK, July 28, 2026 /PRNewswire/ -- Meta Platforms, Inc. (NASDAQ: META) and BlackRock, Inc. (NYSE: BLK) today announced a venture to develop and own a data center campus in El Paso, Texas.

Meta has spent more than 15 years developing, constructing, and operating data center facilities. Meta Compute's strategy builds on that foundation, pairing Meta's infrastructure expertise with capital partnerships that deliver the speed and flexibility its long-term AI ambitions require.

BlackRock, one of the world's leading investment management firms, together with Global Infrastructure Partners and HPS Investment Partners, both a part of BlackRock, complements this strategy. BlackRock delivers substantial capital at scale, along with deep expertise in infrastructure investment and private financing — enabling the rapid execution of mission-critical data center projects. Meta selected BlackRock as its partner following a highly competitive process, reflecting the company's disciplined approach to diversifying its infrastructure financing as it scales Meta Compute.

"Building the infrastructure for superintelligence is key to making sure the benefits of this technology are distributed to everyone," said Mark Zuckerberg, Meta founder and CEO. "Our partnership with Larry and the team at BlackRock allows us to move faster and at greater scale -- pairing our deep expertise in designing and operating world-class data centers with one of the world's leading infrastructure investors."

"We're excited to partner with Mark and the Meta leadership team on the El Paso data center campus, which will create thousands of skilled jobs and help drive economic growth in the local community," said Larry Fink, Chairman and Chief Executive Officer of BlackRock. "Companies around the world are looking for long-term strategic partners to help develop their most important projects, and BlackRock is built to meet that need. This transaction highlights the strength and scale of our combined capabilities with GIP and HPS, and how we can offer clients compelling investment opportunities at the center of AI infrastructure and energy."

The state-of-the-art data center campus, currently under construction in El Paso, Texas, will have 1 gigawatt of compute capacity and will play an essential role in bringing Meta's AI technologies to life, accelerating progress on AI models and supporting enhancements to the core business. Meta will provide construction management, administrative, and property management services for the campus, and will be the initial sole occupant of the campus upon completion. The transaction is expected to close in the coming days and the venture expects to begin bringing this capacity online in 2028.

Full press release