Meta is reportedly working with Morgan Stanley and JPMorgan Chase on a financing package worth around $13 billion for a new data center in El Paso, Texas.
The structure of the deal is expected to rely mostly on debt, with a smaller portion coming from equity. This approach reflects a broader shift among major tech companies, which are increasingly open to leveraging debt to fund large-scale artificial intelligence infrastructure.
Meta Platforms has significantly increased its investment in the El Paso project, raising it to over $10 billion. The facility is designed to reach 1 gigawatt of capacity and is expected to become operational by 2028.
The move comes as competition in AI continues to intensify. Major players like Amazon, Alphabet, and Microsoft are all heavily investing in similar infrastructure.
Overall, Big Tech companies are projected to spend more than $630 billion on AI-related infrastructure this year alone, highlighting the scale and urgency of the race to dominate the next generation of computing.
