Meta Partners With BlackRock for El Paso Data Center
The joint venture aims to develop a one-gigawatt computing campus with an estimated $14 billion in total costs.
Updated on Oct. 21, 2026 in Data Centers
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Meta announced a joint venture with BlackRock-managed funds in July 2026 to construct a new data center campus in El Paso. The project is expected to deliver one gigawatt of computing capacity, with estimated development costs reaching $14 billion.
Why it matters
Meta is actively seeking capital partners to support companywide spending projections, which are estimated to reach $130 billion to $145 billion for 2026. This strategy helps manage the massive infrastructure investments required for the company's expansion.
The planned El Paso data center campus is designed to support one gigawatt of total computing capacity. BlackRock-managed funds hold an 80% stake in the venture, while Meta retains a 20% ownership share.
The players
Meta
A multinational technology conglomerate that owns major social media platforms and invests heavily in artificial intelligence infrastructure.
BlackRock
A global investment management corporation that manages significant capital for institutional and individual clients.
Dina Powell McCormick
An executive who leads Meta's efforts to develop capital partnerships for infrastructure expansion.
The details
Following her transition from the board in December 2025, Dina Powell McCormick took a management role on January 12, 2026, to lead strategy for Meta's computing infrastructure. She works directly with government and strategic capital partners to secure the massive funding necessary for building out such large-scale facilities.
Timeline
April 2025: Dina Powell McCormick joined the Meta board.
December 2025: Dina Powell McCormick resigned from the board.
January 12, 2026: Dina Powell McCormick assumed her new management position.
June 30, 2026: Meta ended its fiscal quarter with $31.08 billion in capital expenditures.
The Tech Race
The El Paso data center venture follows the pattern set by Meta's aggressive capital spending projections for 2026. These massive investments underscore a wider industry arms race where tech giants are offloading infrastructure costs to external financial partners.
The construction of a gigawatt-scale data center creates significant local infrastructure needs, including substantial power and water requirements. Residents may see long-term shifts in local utility demand and increased economic activity related to the development project.
The takeaway
This partnership highlights how large technology firms are increasingly leveraging external funds to finance capital-intensive physical infrastructure. Investors should monitor how these ventures impact Meta's balance sheet versus standalone development.
Further reading
Learn more about the latest developments in Data Centers.
Source note: This article includes information reported by TokenPost.
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