Meta Platforms has announced plans to sell $2.04 billion worth of data centre assets as part of its efforts to bring in external partners to help fund its growing artificial intelligence infrastructure. This move marks a shift in strategy for tech companies that have traditionally relied on self-funding for expansion, especially as the costs of building and powering AI-focused data centres continue to rise.
In a recent filing, Meta confirmed that it approved the plan in June and has reclassified certain assets, including land and ongoing construction, as “held for sale.” These assets are expected to be transferred to a third party within the next year as part of a co-development arrangement for data centres.
Chief Financial Officer Susan Li, during a post-earnings call, stated, “We’re exploring ways to work with financial partners to co-develop data centres.” She added that while Meta still plans to fund most of its capital investments internally, some projects could receive “significant external financing” to allow greater flexibility in case infrastructure requirements change over time. She also mentioned that there were no finalised deals to disclose at this time.
The total value of assets now classified as held for sale stood at $3.26 billion as of 30 June. Meta clarified that it did not incur any losses on the reclassification, as the assets were valued at the lower of their carrying amount or fair market value minus costs to sell.
Chief Executive Mark Zuckerberg has previously highlighted the company’s vision to build AI data centre “superclusters” and described them as vast enough to cover “a significant part of the footprint of Manhattan.”
Meta also raised the lower end of its annual capital expenditure forecast by $2 billion, with the new range set between $66 billion and $72 billion. This increase comes amid stronger-than-expected advertising revenue, which the company attributes to AI-enhanced improvements in ad targeting and content delivery. Executives noted that these gains are helping to balance the growing expenses tied to Meta’s long-term AI infrastructure plans.
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