Meta and Blue Owl Capital have formed a $27 billion joint venture to develop the Hyperion data center campus, aimed at supporting Meta’s long-term AI infrastructure goals. Blue Owl funds will own 80% of the venture, with Meta holding 20%, and both parties will fund their share of development costs.
Meta contributed land and construction-in-progress assets, while Blue Owl provided about $7 billion in cash, including a $3 billion one-time distribution to Meta. The campus is under construction, expected to create over 500 permanent jobs, and Meta will lease the facilities with a 16-year residual value guarantee.
The project combines Meta’s data center expertise with Blue Owl’s infrastructure investment experience, with financing supported by PIMCO and select investors, and advisory from Morgan Stanley, Latham & Watkins, and Kirkland & Ellis. The Hyperion campus represents a major step in expanding Meta’s AI infrastructure efficiently and at scale.