Meta Platforms and BlackRock have formed a joint venture to develop and own a massive AI-focused data center campus in El Paso, Texas. AI infrastructure expansion Meta selected BlackRock after a competitive search for a long-term infrastructure financing partner. He added that the partnership with BlackRock would allow Meta to expand faster by combining its data center expertise with BlackRock’s infrastructure investment capabilities. “We’re excited to partner with Mark and the Meta leadership team on the El Paso data center campus,” Fink said. Financing structure finalized Funds managed by BlackRock will own an 80% stake in the venture, while Meta will retain the remaining 20%.