BlackRock will own 80% of Meta's $14 billion AI data center campus in El Paso, Texas, marking a major Wall Street investment in AI infrastructure. Meta contributes land and assets worth $2.3 billion, while BlackRock invests $4.9 billion in cash, leaving Meta with a 20% stake. This deal exemplifies a new financing approach for costly AI infrastructure, which has raised concerns among investors due to rising capital expenditures. Meta's Q2 earnings report showed a 10% stock drop after increasing its 2026 capital expenditure forecast, driven by higher memory-chip prices and AI data center costs. Similar partnerships are emerging across Big Tech, reflecting growing financial firm involvement in AI infrastructure development.
Meta Platforms' stock has declined 15% over the past year, mainly due to heavy investments in AI infrastructure. Despite these investments enhancing its advertising business, the market remains skeptical without clear AI-driven revenue commentary. Me...
Meta and BlackRock have formed a venture to develop a $14 billion data center campus in El Paso, Texas, designed to support Meta's AI ambitions with 1 gigawatt of compute capacity. Meta will manage construction and operations, while BlackRock and par...
Anthropic CEO Dario Amodei clarified that his company does not support banning open-weight AI models, countering industry rumors. He emphasized that open-weight models without dangerous capabilities are beneficial public goods that aid businesses and...
Meta has upgraded its AI assistant, Muse Spark 1.1, to connect with users' email and calendars, generate presentations, conduct research, and automate tasks, aiming to become a workplace productivity tool. This move positions Meta against Microsoft a...
Anthropic CEO Dario Amodei clarified that his company does not support banning open-weight AI models, which users can download and modify. This statement follows a coalition of tech firms urging policymakers to avoid premature restrictions on such mo...
