Meta is accelerating the construction of its Hyperion data center through a $27 billion partnership with Blue Owl Capital. The project is expected to be completed in 2030 and will bolster the company’s AI investments.
Meta has signed a massive $27 billion partnership deal for the Hyperion data center to be built in the US. The social media giant announced that it has established a joint venture agreement with the asset management firm Blue Owl Capital to finance the investment and development process.
To be Completed in 2030
According to the agreement, Blue Owl Capital will hold an 80% stake in the joint venture, while Meta will retain a 20% share and continue to manage the project, responsible for the data center’s construction and property management processes. Blue Owl contributed approximately $7 billion in cash to the joint venture, and Meta received a one-time payment of $3 billion. Meta stated that this partnership will allow it to realize the data center quickly and flexibly and support the company’s long-term Artificial Intelligence (AI) goals.
Meta had announced in December that it had selected Louisiana as the location for the largest data center in the company’s history. The data center is being built on an area approximately the size of 1,700 football fields and is expected to take until 2030 to complete. It was previously noted that the new data center could consume roughly twice the electricity of the city of New Orleans on peak days.
Meta is rapidly increasing its AI investments and is in a major race with tech giants like Alphabet and ChatGPT creator OpenAI. These companies are also building giant data centers to support future AI models. For example, OpenAI, Oracle, and Softbank announced in January that they would invest $500 billion in data centers in the coming years by forming the Stargate joint venture. Additionally, Google announced last week that it would invest $15 billion in a data center in southern India.
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