Meta Platforms has expanded its data center project in rural Richland Parish, Louisiana, to 5 gigawatts of compute capacity, raising the projected cost to more than $50 billion, the company said Monday.
The facility, originally estimated at $27 billion, will be Meta’s largest data center and one of the largest investments in artificial-intelligence infrastructure in the world, the Wall Street Journal reported.
The revised estimate more than doubles the $27 billion the project was initially expected to cost. The financing structure involves private-credit manager Blue Owl Capital, which owns a major stake in the project, with BlackRock among additional investors, the Journal reported. Financial terms were not disclosed.
Meta has agreed to pay the costs of energy, water, and related infrastructure required by the data center. In March, Meta reached a deal with Entergy Louisiana to fund the energy supply for the project.
Meta shares were up 5.97% in recent trading, according to market data cited by the Journal.