Meta In Talks To Raise $35 Billion For Data Center With Financing Led By Apollo Global

Meta, the parent company of Facebook, and other leading social media platforms, is looking to raise as much as $35 Billion to build data centers in the US.Apollo Global Management Inc., an alternative asset manager has discussed providing a major part of the financing, said the people, who asked not to be identified because the information isn’t public. KKR & Co. is also a part of the investor group, one of the people said.The funding conversations are at an early stage and there’s no guarantee a deal will be completed. The Facebook-parent did not immediately respond to a request for comment, while Apollo Global Management declined to comment when contacted.Meta also plans to invest $10 Billion to set up an AI data center, it said in December. The company plans to bring a gigawatt of compute online this year, and is building a $10 Billion data center in Louisiana that could grow to two gigawatts. The amount of electricity used by the Meta data center in Louisiana will be matched by renewable energy, for which the tech firm will be working with utility Entergy.Earlier this week, it was reported that Meta has visited potential sites for a $200 Billion AI data center campus, built out over a number of years. The potential $35 Billion financial partnership is still in an early stage, and is not guaranteed. The proposal comes despite Meta sitting on a cash pile of $77.81 Billion, as of December.Apollo has funded a number of data center and tech projects, including backing an Intel manufacturing plant, last month the company acquired the owner of TierPoint.This year, Microsoft plans to spend $80 Billion on AI data centers, Stargate some $100 Billion, and Google $75 Billion. Amazon's larger capex is expected to hit $100 Billion.More on Meta’s AI Data Center aspirations on DCDDBC Technologies | AI Voice Agent & Web Chatbot | Inbound & OutboundI’ve partnered with DBC Technologies, a provider of AI Voice Agents, Chatbots and more. DBC provides agents trained to work directly with customers via the phone or web. Product knowledge, company information, industry expertise and much more.For more information on getting started with AI for your Enterprise contact me today. Get full access to Neural News Network at remunerationlabs.substack.com/subscribe