Meta is set to close a $30 billion financing deal for its data center site in rural Louisiana, according to a Bloomberg report. This would be the largest private capital deal on record.
The ownership of the Hyperion data center in Richland Parish, Louisiana, will be split between Meta and alternative asset manager Blue Owl Capital, and the social media giant will only retain 20%. Morgan Stanley arranged more than $27 billion debt and about $2.5 billion equity into a special purpose vehicle to finance the build-out, according to the report.
Meta is not borrowing the capital itself, but the financing entity is, under the SPV structure. Meta will be the developer, operator and tenant of the project, to be completed in 2029. Reuters had previously reported that the social media giant tapped U.S. bond company PIMCO and Blue Owl Capital for $29 billion in financing for the data centers.
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The parties took the final step to price the bonds with PIMCO as the anchor lender on October 16, according to Bloomberg News. A few other investors are receiving some allocations of the debt, which matures in 2049.
President Donald Trump had previously announced that Meta would be spending $50 billion for the Hyperion data center. Trump displayed a graphic—allegedly supplied by Mark Zuckerberg—showing the proposed Hyperion data center superimposed over Manhattan to highlight its massive scale, as he announced Meta’s investment in the project.
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A Louisiana state regulator also approved Meta’s deal with Entergy for powering the data center. Three massive power plants, slated to come online in 2028 and 2029, will generate 2.25 gigawatts of electricity to support the facility. At full capacity, the AI data center could consume up to five gigawatts as it expands.
Meta CEO Mark Zuckerberg had stated in July that the company is building several massive AI compute clusters, each of them with the energy footprint of a small city. One such facility, Prometheus, will be the company’s first multi-gigawatt data center, while Hyperion is designed to scale up to five gigawatts over time. These investments are intended to support the goal of developing “superintelligent AI systems.”
The tech giant had said on Wednesday that it would invest $1.5 billion in a data center in El Paso, Texas. This data center, which will be Meta’s third in Texas, is expected to come online in 2028.