Meta plans $13bn data center

Meta Platforms is in talks with Morgan Stanley and JPMorgan to secure a $13 billion financing package for a massive new data center in El Paso, Texas.

The project is a critical component of Meta's strategy to expand its AI infrastructure and compete with rivals like Google and Microsoft.

The scale of the deal highlights the immense capital requirements of the AI boom and Big Tech's growing reliance on debt to fund these projects.

The El Paso facility is expected to be one of the largest of its kind, providing the necessary computing power for Meta's next-generation AI models.