Meta Arranging $13B Mostly-Debt Financing for 1GW El Paso AI Data Center Expansion

Meta Platforms is arranging roughly $13 billion in financing—mostly debt with a smaller equity portion—led by Morgan Stanley and JPMorgan Chase to expand its El Paso, Texas data center campus eightfold to about 1 gigawatt from an original $1.5 billion commitment in October 2025. Bloomberg News first reported the deal on May 4, 2026, lifting Meta shares 0.3%, though Reuters could not immediately verify. May 5 updates emphasize its role as a potential benchmark for mega-scale AI data center debt amid Meta's $115-$145 billion 2026 capex guidance and banks' efforts to transfer infrastructure risks.