Meta Taps PIMCO, Blue Owl For $29 Billion Louisiana Data Center Buildout As AI Infrastructure Race Heats Up
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Meta Platforms Inc. has partnered with PIMCO and Blue Owl Capital to finance a $29 billion data center expansion in Louisiana, aimed at enhancing its AI infrastructure. PIMCO will manage $26 billion in debt, while Blue Owl will contribute $3 billion in equity. This strategic move follows Meta's decision to sell $2 billion in data center assets to alleviate rising AI costs. Meta's CEO announced plans for significant investments in AI data centers to maintain a competitive edge in technology. Meta's stock closed at $769.30, reflecting a positive price trend.
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