July 28, 2026 By K. S. WheelerMeta and BlackRock announced on July 28 a new venture to develop and own a data center campus in El Paso, Texas. The project will be managed by Meta Compute, which aims to pair Meta’s infrastructure expertise with capital partnerships to support its long-term artificial intelligence ambitions. BlackRock, together with Global Infrastructure Partners and HPS Investment Partners—both part of BlackRock—will provide substantial capital and infrastructure investment expertise for the project. The state-of-the-art facility is currently under construction in El Paso. The financing structure involves funds managed by BlackRock owning an 80% interest in the venture, while Meta retains a 20% stake.