Meta forms $27 billion joint venture for Hyperion data centre build

Meta Platforms Inc on Tuesday announced it has formed a joint venture with funds managed by Blue Owl Capital Inc to build a data centre in Louisiana.

Meta, a Menlo Park, California-based social media and technology company, said the USD27 billion joint venture will develop and own the Hyperion data centre campus.

As part of the deal, the New York-based asset management firm will own 80% of the venture while Meta will retain the remaining 20% ownership and provide the construction and property management services for the project.

The partnership aims to combine Meta's deep data centre expertise and long-term artificial intelligence ambitions with Blue Owl Capital’s ability to fund and scale infrastructure to speed-up mission-critical facility expansion.

"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," said Meta Chief Financial Officer Susan Li.

Doug Ostrover and Marc Lipschultz, co-chief executive officers of Blue Owl Capital, added: "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. 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."