Meta Increases West Texas AI Data Center Investment to $10 Billion
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowMeta has raised its investment in a West Texas AI data center from $1.5 billion to $10 billion, aiming for 1 gigawatt capacity by 2028. The El Paso site will create 300 jobs and require over 4,000 construction workers at peak times. This investment is part of Meta's strategy to meet rising demand for AI infrastructure, despite a 16% decline in stock value this year, including a 7% drop following recent court decisions. Meta's capital expenditures for the year are projected to reach up to $135 billion.
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About Meta Platforms Inc. (META)
Meta Platforms owns Facebook, Instagram, WhatsApp, and Messenger, earning almost all of its revenue from digital advertising while investing heavily in AI and the metaverse.
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