Meta Platforms picks Pacific Investment Management Co. and Blue Owl Capital Inc. to lead financing

Description

Meta Platforms Inc. has selected Pacific Investment Management Co. (PIMCO) and Blue Owl Capital to lead a roughly $29 billion financing package to build out its planned AI-focused data-center campus in rural Louisiana, people familiar with the matter told Bloomberg and Reuters. The deal is the latest sign that Big Tech is turning to private credit markets and strategic partners to help shoulder the skyrocketing costs of building the massive compute infrastructure needed for generative-AI workloa...