BlackRock Sells $12.3 Billion in Bonds to Build 1-Gigawatt Meta Data Center in El Paso
- BlackRock is marketing $12.3B in bonds through Project Sopaipilla Holdings (BlackRock 80% / Meta 20%) to finance a ~1 GW data center campus in El Paso, with JPMorgan Chase and Morgan Stanley running the deal (cryptobriefing.com).
- The financing uses the same 80/20 joint-venture template Meta pioneered with Blue Owl Capital in Louisiana, letting Meta secure AI compute capacity while keeping most capex off its balance sheet.
- Comes on the heels of BlackRock's $40B Aligned Data Centers acquisition and highlights concentration of AI infrastructure ownership that could draw regulatory scrutiny.