Bloomberg News reported that Blue Owl Capital Inc. and Meta will split ownership of the Hyperion data centre site in Richland Parish, Louisiana, with Zuckerberg’s company retaining only 20%.

In order to finance the build-out, it has been reported that Morgan Stanley has arranged for $27 billion of debt and roughly $2.5 billion of equity into a special purpose vehicle. This type of financing  structure has become more common in recent years across the sector, as it aids technology companies in avoiding large amounts of debt.

This type of financing could set the standard for other hyperscalers currently looking to develop large data centre sites to innovate in cloud and AI projects, without impacting their credit ratings.

Under this type of structure, Meta not borrowing the capital, the financial entity will be. However, the technology giant will be the developer, operator and tenant of the project – which is due to be completed in 2029.

Hyperion is the largest of Meta’s data centre sites, boasting four million square feet. It is expected to achieve 5GW of power at full capacity – the equivalent of four million homes in the US – according to Bloomberg.

The news comes as Meta also commits $1.5 billion towards an AI data centre in Texas. Located in El Paso, this is the 29^th data centre the company is building in the state and is designed to scale up to 1GW of capacity and power its expanding AI workloads.

Meta is also building a large data centre in Ohio.

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