Meta Platforms is arranging a $13 billion financing package for a new AI data center in El Paso, Texas.
Morgan Stanley and JPMorgan Chase are leading the deal. The financing will consist of a mix of debt and equity.
The facility targets a capacity of 1 gigawatt. Meta expects the site to be operational by 2028.
The move highlights the massive capital required for artificial intelligence infrastructure. Big Tech companies increasingly rely on debt to fund these large-scale projects.