Reported by Bloomberg last week and confirmed by Meta in a statement yesterday, the partnership has been designed to support the speed and flexibility required for Meta’s data centre projects and long-term AI ambitions.
Alongside Meta’s world-class data centre experience, Blue Owl Capital aims to deliver substantial capital at scale, alongside its digital infrastructure expertise, to execute mission-critical data centre projects for hyperscalers.
Funds managed by Blue Owl Capital will own an 80% interest in the joint venture and Meta will retain the remaining 20% ownership. Meta said via its statement that both have committed to fund their respective pro rata share of the approximately US$27 billion in total development costs for the buildings and long-lived power, cooling and connectivity infrastructure at the campus.
“We’re proud that our funds are partnering with Meta on the development of the Hyperion data centre campus – an ambitious project that reflects the scale and speed required to power the next generation of AI infrastructure,” said Doug Ostrover and Marc Lipschultz, co-CEOs of Blue Owl Capital.
“Blue Owl’s ability to deliver substantial capital at scale, combined with our deep experience supporting hyperscalers, makes us uniquely positioned to help bring mission-critical digital infrastructure to life.”
Meta has contributed certain land and construction-in-progress assets relating to the campus development. The technology giant said it entered into operating lease agreements with the joint venture for use of all the campus facilities once construction is complete.
These lease agreements will have a four-year initial term with options to extend, providing Meta with long-term strategic flexibility.
Susan Li, CFO at Meta explained: “Our AI ambitions will be realised through our ability to deliver the infrastructure to support it. Our partnership with Blue Owl Capital to develop the Hyperion data centre is a bold step forward – combining Meta’s deep expertise in building and operating world-class data centres with Blue Owl’s strength in infrastructure investment.”
Rachel Peterson, VP, data centers at Meta, added: “We are proud to be part of the Richland Parish community and we look forward to continuing to strengthen our partnership for years to come.
“Construction is well underway with thousands of construction workers on site and, once online, the project will support over 500 operational jobs.”
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