Meta Platforms seeks JPMorgan Chase and Morgan Stanley financing for $13-billion El Paso data centre
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Meta Platform is in communication with JP Morgan Chase and Morgan Stanley for a potential $13 billion financing package for its upcoming data centre in El Paso, Texas. According to a report by Bloomberg, most of the financing for the project is expected to come in the form of debt and the rest in equity.
With the El Paso facility, Meta is aiming to reach 1 gigawatt capacity ahead of the data centre’s scheduled opening in 2028. For this, Meta in March increased its investments more than sixfold to $10 billion.
Notably, Meta is heavily investing in data centre projects, which is essential to power its next generation AI technology. According to the tech giant, these facilities are “crucial” to develop future technologies.
Before the El Paso project, Meta had built more than 30 data centres across the US, Europe and Asia. However, its earlier data centres were largely built to fulfill the company's storage needs and social media scale, while the new projects are mainly aimed at AI scale.
The race for AI among big tech giants
However, Meta is not alone in building large-scale data centres; in fact, other tech giants are investing more heavily in it. For example, Amazon AWS will be investing more than $200 billion in 2026 for building data centres while Microsoft has planned investments of around $190 billion in the same year. Similarly, Alphabet, the parent company of Google, is to spend $175–185 billion in capex for 2026.
Together, these tech giants are projected to spend more than $630 billion on AI infrastructure this year.
How does a data centre work?
A data centre is a large facility filled with thousands of powerful computers called servers that store data and run applications for users. For example, when you use an app or website, your request is sent to a data centre, where servers process the information and send the result back to your device in milliseconds.
These centres rely on high-speed networks to move data quickly, a continuous power supply with backups to stay online 24/7, and advanced cooling systems to prevent overheating. They also have strong physical and digital security, along with backup systems for almost everything so that services don’t stop even if something fails.