On July 28, BlackRock rose 3.13% in regular trading, trading at $1,095.36 per share, with turnover of $341 million. The rally was driven by the announcement of a major strategic joint venture with Meta Platforms to develop and operate a 1-gigawatt data center campus in El Paso, Texas.

Under the agreement, BlackRock-managed funds will hold 80% equity in the venture while Meta retains the remaining 20%. The total development cost is approximately $14 billion, with BlackRock contributing $4.9 billion in cash and Meta contributing $2.3 billion in assets. Meta will provide management services and serve as the first exclusive user of the campus. The project is expected to create 4,000 construction jobs and 300 operational positions.

In a significant financing milestone, a BlackRock-backed special-purpose vehicle completed a $12.5 billion bond issuance to fund the project, managed by JPMorgan Chase and Morgan Stanley. The offering attracted approximately $20 billion in investor orders, exceeding the initial plan by about $273 million, signaling strong institutional appetite for AI infrastructure assets. Rating agency Moody's noted the deal carries both risks and opportunities.

(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.)