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Investing.com-- Meta Platforms Inc (NASDAQ:META) is close to clinching a $30 billion financing deal for a data center site in rural Louisiana, Bloomberg reported on Thursday, citing people with knowledge of the matter.
The company will split ownership of the Hyperion data center site in Richland Parish, Louisiana, with Blue Owl Capital Inc. Metal will retain a 20% stake in the venture, Bloomberg reported.
Funding for the site comes from Morgan Stanley, which arranged over $27 billion of debt and about $2.5 billion of equity into a special purpose vehicle.
Thursday’s report comes amid continued, outsized spending by Meta and its peers on building out more data center capacity for their AI ambitions. Meta has been aggressively poaching talent and acquiring computing capacity in recent months.
The company said on Wednesday it will invest $1.5 billion to build a data center in Texas.