According to reports, American tech giant Meta has secured a financing plan of nearly $30 billion for its data center site in rural Louisiana, marking the largest private capital deal in history. Major cloud service providers are competing to build artificial intelligence infrastructure, with most investments directed towards powering data centers.

Insiders reveal that Meta will share ownership of the Hyperion data center site in Richland Parish, Louisiana, with alternative asset management firm Blue Owl Capital, with Meta retaining only a 20% stake. Morgan Stanley arranged over $27 billion in debt and approximately $2.5 billion in equity to finance a special purpose vehicle (SPV). Meta is not borrowing the funds directly but will use this financing entity under the SPV structure. The company will act as the developer, operator, and tenant of the project, which is expected to be completed by 2029.

In August, reports indicated that the social media giant had sought $29 billion in financing from American bond giant PIMCO and Blue Owl Capital for the expansion of its data centers. According to Thursday’s report, the parties involved took the final step on October 16 to price the bonds in 144A format, with PIMCO as the main lender. Other investors are also set to receive bonds maturing in 2049.

On Wednesday, Meta announced an investment of $1.5 billion to build a data center in El Paso, Texas, marking the groundbreaking of the company's 29th data center globally as it expands infrastructure to support artificial intelligence workloads.