Meta Picks Pimco, Blue Owl for $29 Billion Data Center Deal

Meta Platforms Inc. has secured a $29 billion financing deal to expand its data center operations in rural Louisiana. The tech giant has chosen Pacific Investment Management Co. (Pimco) and Blue Owl Capital Inc. to lead the financing, reflecting the growing demand for artificial intelligence (AI) infrastructure. The deal represents a significant investment by Meta to bolster its data center capabilities, which are crucial for supporting the company's AI initiatives and cloud computing services. The financing will be used to fund the construction and development of the data centers, which are expected to be located in rural areas of Louisiana. The partnership with Pimco and Blue Owl Capital suggests that Meta is seeking to leverage the expertise and resources of established financial institutions to support its ambitious data center expansion plans. The move also highlights the increasing importance of AI infrastructure in the tech industry, as companies race to stay competitive in the rapidly evolving digital landscape.