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Meta Platforms is working with Morgan Stanley and JPMorgan Chase on a roughly $13 billion financing package for a data center in El Paso, Texas.
Meta is working with Morgan Stanley and JPMorgan on a $13 billion financing package for an El Paso data center.
KEY POINTS
- Most of the $13 billion financing for the project is expected to be structured as debt.
- Meta increased its investment in the El Paso AI data center to $10 billion in March, targeting 1 gigawatt capacity.
- Meta and other tech giants are projected to spend over $630 billion on AI infrastructure in 2024.
COMPANIES
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