Meta Platforms is finalizing a $30 billion finance package for a data center in Louisiana, the largest private capital deal ever. The facility will be crucial for AI infrastructure. Meta and Blue Owl Capital will jointly own the site, with Morgan Stanley arranging the financing. The project is set to be completed in 2029.

$29 billion in financing for Meta’s data center expansion has been spearheaded by PIMCO and Blue Owl Capital. Bonds were priced in the 144A format, with PIMCO as the anchor lender. The debt matures in 2049. Meta, Blue Owl, and Morgan Stanley have not yet commented on the matter.

Meta announced a $1.5 billion investment in a data center in El Paso, Texas, marking its 29th global facility. The expansion aims to support AI workloads. This comes amidst Meta’s push to strengthen its infrastructure and presence in the cloud service industry.

Read more at Yahoo Finance: Meta set to clinch nearly $30 billion financing deal for Louisiana data center site, Bloomberg News reports