[Meta Announces Partnership with BlackRock to Develop Over $10 Billion El Paso Data Center Project] Odaily Planet Daily News – Meta has announced a new strategic project in partnership with BlackRock to develop the El Paso Data Center. The El Paso Data Center represents an investment of over $10 billion by Meta. Funds managed by BlackRock will hold an 80% stake in the project, while Meta will retain the remaining 20% equity. All parties have committed to proportionally share approximately $14 billion in construction and development costs, including long-term power, cooling, and connectivity infrastructure within the campus. Upon financial closing, Meta will contribute risk land and assets under construction valued at approximately $2.3 billion, while BlackRock will provide a cash contribution of approximately $4.9 billion. Meta will receive a one-time distribution of approximately $1 billion to align ownership distribution according to the 80/20 ownership split. Part of BlackRock's investment will be funded through $12.5 billion in debt financing. (Cailian Press)