Meta has partnered with US bond giant PIMCO and alternative asset manager Blue Owl Capital to arrange a $29 billion financing package for its data centre expansion in rural Louisiana, according to a person familiar with the matter.
PIMCO is expected to handle around $26 billion of the funding in the form of bonds, while Blue Owl will contribute $3 billion in equity, the source said, requesting anonymity.
The arrangement follows months of funding discussions. It is understood that Meta has been working with Morgan Stanley to raise the capital, while other firms, including Apollo Global Management and KKR, were also considered to lead the deal before the final negotiations concluded.
Representatives for Meta, PIMCO, and Blue Owl declined to comment.
The funding push comes as Meta accelerates its investment in AI infrastructure. Last week, the company revealed in a filing that it plans to sell approximately $2 billion worth of data centre assets as part of a co-development plan to share the costs of building facilities dedicated to generative AI.
In July, Meta CEO Mark Zuckerberg said the company would invest hundreds of billions of dollars to develop several large-scale AI data centres for its superintelligence division. This move is part of an intensified strategy that includes competing for top engineering talent.
The first of these facilities, a multi-gigawatt data centre named Prometheus, is scheduled to begin operations in 2026. Another facility, called Hyperion, will have the capacity to expand to 5 GW over time, Zuckerberg shared in a post on his Threads platform.
In June, it was reported that Meta was seeking $29 billion from private capital firms for AI data centre projects in the United States. The company has been assessing different structures for the debt raise and is also considering ways to secure additional funding.
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