Meta Platforms is working with Morgan Stanley and JPMorgan Chase to arrange a financing package exceeding USD 13 billion for a planned artificial intelligence data center in El Paso, Texas, according to reports.

The deal represents one of the most significant single-site infrastructure financing efforts undertaken by a major technology company as demand for AI computing capacity accelerates across the industry.

Structure of the Financing Deal

The financing package is expected to consist primarily of debt, with the remainder structured as equity. Meta has enlisted two of Wall Street's largest investment banks to arrange the package, underscoring the scale and complexity of the capital raise required to support the project.

The involvement of Morgan Stanley and JPMorgan Chase signals that Meta is pursuing institutional-grade financing infrastructure to back what has become one of its most ambitious capital projects to date.

The El Paso data center has already seen its projected investment revised upward to approximately USD 10 billion, a figure that reflects the growing scope of the facility as Meta continues to expand its AI ambitions.

The USD 13 billion financing arrangement would sit on top of or alongside that capital commitment, providing the financial backbone for what is shaping up to be a substantial long-term construction and operational undertaking.

Scale and Timeline of the El Paso Project

Meta is targeting one gigawatt of capacity for the El Paso facility, a power threshold that places it among the largest data center developments currently underway in the United States.

The company expects the project to come online in 2028, giving it a multi-year construction horizon during which financing, permitting, and infrastructure buildout will need to proceed in parallel.

The one-gigawatt target reflects the enormous computational demands associated with training and running large-scale AI models.

Data centers supporting AI workloads require significantly more power than traditional facilities, and the El Paso project's capacity goals are consistent with the kind of infrastructure being developed across Big Tech as companies race to secure enough computing power to support their respective AI strategies.

A Broader Shift Across Big Tech

Meta's financing move is part of a broader pattern of infrastructure investment sweeping through the technology sector.

Companies including Amazon, Alphabet, and Microsoft have all committed billions of dollars to data center expansion as artificial intelligence becomes a central pillar of their product and service offerings.

The simultaneous buildout across multiple major players reflects both the competitive pressure to secure AI capabilities and the underlying demand growth that is driving the need for expanded computing infrastructure.

The scale of these investments marks a notable shift in how technology companies are approaching capital allocation.

Rather than relying solely on internal cash generation, firms are increasingly turning to external financing to fund infrastructure that requires upfront capital outlays measured in the tens of billions of dollars.

Meta's arrangement with Morgan Stanley and JPMorgan Chase illustrates how the financing of AI infrastructure is becoming a significant business line for major investment banks.

Implications for Meta's Financial Position

The financing package carries a dual set of implications for Meta and its investors. On one hand, expanding capacity at the El Paso facility could provide the computational foundation needed to advance Meta's AI products and services, potentially strengthening the company's competitive position over the long term.

On the other hand, taking on higher levels of debt and increasing capital expenditure commitments introduces additional pressure on profitability, at least in the near to medium term.

Investors are expected to closely monitor whether Meta can translate this infrastructure investment into meaningful revenue growth.

The data center buildout, while strategically significant, requires sustained returns to justify the financing costs and capital deployed.

The El Paso project is a long-duration commitment, with the 2028 opening date meaning that a full return on the investment will take years to materialize.

The move also highlights the growing role of project finance structures in the technology sector.

Historically more common in energy and infrastructure industries, large-scale debt-and-equity financing packages are increasingly being applied to technology infrastructure as the physical footprint of AI systems expands.

Context for Meta's AI Investment Strategy

Meta has been explicit about its intention to invest heavily in AI infrastructure as a strategic priority. The El Paso project represents a concentrated expression of that strategy, centralizing a significant share of the company's AI computing capacity in a single facility.

The upward revision of the project's cost estimate to around USD 10 billion, combined with the USD 13 billion financing arrangement being assembled through Wall Street, indicates that Meta is prepared to commit substantial resources to the buildout over the coming years.

The selection of El Paso as the site for this investment reflects a range of factors that typically influence data center location decisions, including land availability, power access, and regulatory environment, though the sources do not specify the precise criteria that led Meta to that location.