Meta in Talks to Secure $35B Financing Package for Data Center Project
The financing comes as Meta is reportedly looking to build a $200 billion data center campus
By Isabelle Durso February 27, 2025 5:24 pm
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meta Platforms is in talks to secure a roughly $35 billion financing package from an investor group led by Apollo Global Management (APO) for a major data center project in the U.S.
While the deal is not guaranteed to be completed anytime soon, private equity giant Apollo has “discussed providing a major part of the financing” within the investor group, which also includes KKR (KKR), according to Bloomberg, which first reported Meta’s plans..
KKR declined to comment, while spokespeople for Meta and Apollo did not immediately respond to requests for comment.
The news comes after Meta CEO Mark Zuckerberg has been mulling plans to build a roughly $200 billion data center campus for Meta’s artificial intelligence projects, The Information reported. Meta Platforms is the parent company that operates Facebook, Instagram, WhatsApp and other content-sharing services.
Meta executives are eyeing potential sites for the data center campus in Wyoming, Texas and Louisiana, among other states. The company already plans to build a $10 billion data center in Louisiana, according to The Information.
Meta has also said it wants to bring about a gigawatt of computing power online in 2025, as Zuckerberg works on his own goal of making Meta AI — the company’s AI chatbot — the most widely used bot in the world by the end of the year, Bloomberg reported.
Not to mention, Meta has also developed “an open-source large language model called Llama,” which it hopes will create a worldwide AI product foundation, according to Bloomberg.
Apart from the Meta discussions, Apollo has been busy lately.
Just this week, Apollo announced it purchased real estate investment firm Bridge Investment Group in a $1.5 billion all-stock transaction, as Commercial Observer previously reported.
The deal, which will be finalized during the third quarter of this year, is part of Apollo’s plan to expand its real estate originations base, CO reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
