Meta Platforms, Inc. (NASDAQ:META) has found its way onto the list of 14 Top Large-Cap Stocks Worth Your Attention. The company just announced on October 15 that they are going to invest a whopping $1.5 billion into establishing an AI data center in Texas.
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This facility will be the 29th of its kind globally for the social media titan, as they continue to enhance their infrastructure to better support AI initiatives. Situated in El Paso, this upcoming data center will mark Meta’s third location in Texas and is slated to open in 2028, boasting the potential to scale up to a massive 1-gigawatt capacity, positioning it among the largest data center campuses planned in the U.S.
Once this center is up and running, it’s projected to generate about 100 new jobs, alongside employing over 1,800 construction workers during peak building periods. Meta pointed out that El Paso was chosen for this project due to its talented workforce and reliable power grid.
With more than 2,500 employees sprawled across Texas, Meta has poured over $10 billion into the state, including this recent investment in El Paso.
This latest investment follows their significant $29 billion deal struck off-balance-sheet back in August with Blue Owl and Pimco, aimed at another data center campus, this time in Louisiana.
Meta, celebrated as one of the largest tech players on the globe, runs several well-known social media channels like Facebook, WhatsApp, Instagram, and Threads.
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