Meta has chosen Pimco and Blue Owl to spearhead a $29 billion financing initiative aimed at expanding its data centre infrastructure in Louisiana. This investment supports Meta's growing AI development efforts. Pimco will manage $26 billion in debt, expected to be issued as bonds, while Blue Owl will contribute $3 billion in equity.
The data centre campus in Louisiana will span 2,250 acres, potentially housing nine buildings and totalling four million square feet, with construction phased through 2030. Meta's move reflects a broader industry trend where power availability dictates data centre locations.
This financing approach signals a move towards off-balance-sheet infrastructure funding. Meta previously announced divesting $2 billion in data centre assets via co-development to share generative AI facility costs. CEO Mark Zuckerberg outlined plans for massive AI data centres, including the Prometheus and Hyperion projects, with Hyperion potentially scaling to 5 GW.
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