On July 28, Meta Platforms (META.US) and BlackRock announced a joint investment and ownership of a data center campus in El Paso, Texas, currently under construction, with a computing capacity of 1 gigawatt. Meta will provide construction management, administrative management, and property management services for the campus, and will become its first and sole user upon completion. The transaction is expected to close in the coming days, and the project is scheduled to begin operations in 2028. The El Paso data center is part of Meta's over $10 billion investment, and upon completion, it will support over 4,000 construction jobs during peak periods and 300 operational roles. Currently, more than 2,300 workers are on site. Funds managed by BlackRock will hold an 80% stake in the joint venture, while Meta will retain the remaining 20%. Both parties have committed to jointly fund, in proportion to their stakes, approximately $14 billion in development costs for the campus buildings and long-term power, cooling, and communication infrastructure.