Meta (Nasdaq: META) has reportedly selected PIMCO and Blue Owl Capital (NYSE: OWL) to lead a $29 billion financing package to support its AI-focused data center expansion in rural Louisiana, according to Reuters.
PIMCO will manage approximately $26 billion in debt, likely issued as bonds, while Blue Owl will contribute $3 billion in equity. Morgan Stanley (NYSE: MS) is advising Meta on the deal, which had also seen interest from Apollo Global Management (NYSE: APOLLO) and KKR (NYSE: KKR). The financing is part of Meta’s broader effort to fund its AI infrastructure, including plans to divest $2 billion in data center assets and build massive facilities like the upcoming Prometheus and Hyperion centers.
The project reflects CEO Mark Zuckerberg’s ambition to invest heavily in generative AI and superintelligence capabilities.