BlackRock is raising $12bn to build Meta a data centre it will own, lend to, and rent out

BlackRock is raising $12 billion through bonds to finance a Meta data center in Texas, owning 80% while Meta owns 20% and leases it back. This off-balance-sheet model reduces Meta's capital expenditure and follows a pattern seen in other Meta data centers. BlackRock integrates asset ownership and debt origination, betting on sustained AI demand to cover long-term bonds despite hardware depreciation risks.