On August 4, BlackRock rose 3.05% in regular trading, trading at $1,122.34/share, with turnover of $4.47 billion. The move was driven by the formal landing of a strategic joint venture with Meta Platforms to develop AI data center infrastructure, coupled with broad strength across the asset management sector.

BlackRock and Meta agreed to form a joint venture to develop and operate a 1GW data center campus in El Paso, Texas. BlackRock-managed funds will hold an 80% equity stake with Meta retaining the remaining 20%. Both parties will contribute proportionally to approximately $14 billion in total development costs, with BlackRock committing $4.9 billion in cash. BlackRock also completed a $12.5 billion bond sale via a special-purpose vehicle to finance the project, with investor orders reaching approximately $20 billion. The transaction marks BlackRock's accelerating push into AI infrastructure private markets.

Within the Asset Management and Custody Banks sector, the broader group rallied notably. Blue Owl Capital rose 8.88%, Ares Management gained 7.58%, Blackstone Group rose 6.03%, and KKR advanced 5.08%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)