Meta is working with Morgan Stanley and JPMorgan Chase on a roughly $13 billion financing package for a data center in El Paso, Texas, a source familiar with the matter told Reuters on Monday.
Moreover, Bloomberg News, which first reported the news, stated that a majority of the financing is expected to be in the form of debt, with the rest in equity.
Also, in a recent trend that has been noted, big tech firms are pouring hundreds of billions of dollars into data centers amid strong demand for the technology, and departing from their long-standing reluctance to raise debt to gain an edge in the artificial intelligence race.
However, Meta, Morgan Stanley, and JPMorgan did not immediately respond to Reuters’ requests for comment on the matter outside regular business hours.
Meta Boosts Investments in El Paso AI Data Center
Moreover, Meta in March boosted its investment in the planned El Paso AI data center by more than sixfold to $10 billion. Furthermore, this comes in as it aims to reach 1 gigawatt of capacity ahead of the facility’s projected 2028 opening.
Lastly, Meta and its rivals Amazon, Alphabet, and Microsoft are projected to spend over $630 billion on AI infrastructure this year. Just to note Amazon, has also invested in a mega data center in Marysvile. This shows Amazon’s commitment to developing AI infrastructure.
Also, joining the race to develop AI infrastructure, Microsoft is seeking to expand its footprint in Europe with a data center campus in Aragon, North East Spain.
Project Factsheet
Official Project Name: El Paso Data Center
Internal Codename: Project Sopaipilla (Wurldwide LLC)
Developer: Meta Platforms, Inc.
Location: 1,000-acre site in Northeast El Paso (north of Stan Roberts Sr. Ave, west of US 54).
Facility Size: Approximately 1.2 million square feet.
Status: Ground broken in 2025; phase 1 construction ongoing.
Target Operational Date: 2028.
Total Project Investment: $10 billion+ (increased from the initial $1.5 billion estimate).
Financing Package: $13 billion (Debt-heavy hybrid package).
Financing Leads: Morgan Stanley and JPMorgan Chase.
Incentives: Approximately $550 million in city and county property tax rebates and incentives.
Total Power Capacity: 1 Gigawatt (1GW) at full build-out.
Design: Next-gen flexible architecture supporting both traditional servers and AI-enabled liquid-cooled hardware.
Job Creation:
Permanent: 300+ operational roles (increased from initial 100).
Construction: Also, over,000 workers will be employed at peak construction.
Certification: Targeted LEED Gold certification.
