People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas
(Reuters) -Meta has struck a $27 billion financing deal with Blue Owl Capital to fund its biggest data center project globally, as large technology companies race to build out the infrastructure needed to power their artificial intelligence ambitions.
Tuesday's announcement marks Meta's largest-ever private capital deal. Under it, Meta will retain about 20% equity in the Louisiana project, with the majority owned by funds that alternative asset manager Blue Owl Capital manages. Blue Owl contributed roughly $7 billion in cash to the joint venture, with Meta receiving a one-time payout of about $3 billion.
