Meta has enlisted U.S. bond giant PIMCO and alternative asset manager Blue Owl Capital to lead a $29 billion financing package for its planned data center expansion in rural Louisiana, a source familiar with the matter told Reuters.
PIMCO will oversee roughly $26 billion in debt financing, likely via bond issuance, while Blue Owl will provide $3 billion in equity, the source said. Bloomberg News, which first reported the deal, noted that Morgan Stanley has been working with Meta on the fundraising. Apollo Global Management and KKR were contenders to lead the financing but dropped out in the final stages.
The funding move comes as Meta accelerates its AI infrastructure buildout. The company recently said it plans to sell about $2 billion in data center assets under a co-development strategy to share generative AI facility costs.
CEO Mark Zuckerberg announced in July that Meta will invest hundreds of billions of dollars to construct massive AI data centers for its superintelligence unit, including “Prometheus,” a multi-gigawatt facility slated to go online in 2026, and “Hyperion,” which could scale to 5 GW.
In June, the Financial Times reported Meta was seeking $29 billion from private capital firms for its U.S. AI data centers, while evaluating both debt structures and additional fundraising options.
