Through a
holding company for its 80% stake in Project Sopaipilla Holdings, BlackRock—via
its Global Infrastructure Partners and HPS Investment Partners—is funding the facility,
with Meta owning the remaining 20% and planning to use it.
JPMorgan Chase and Morgan Stanley are handling
investor calls, with pricing set for early next week.
The deal echoes last year's $30 billion Louisiana project involving Meta and Blue Owl Capital, driven by surging demand for AI infrastructure as tech giants race to meet massive power needs.