Meta Platforms Inc. is putting together a loan package for a data center in El Paso, Texas, that could total roughly $13 billion, according to a Bloomberg report published May 5, 2026. Morgan Stanley and JPMorgan, two of the biggest banks on Wall Street, have been tapped to lead the arrangement (Bloomberg).

The financing follows Meta's October 2025 announcement that it is building a gigawatt-sized data center in Texas (Bloomberg). The facility is slated to have 1 gigawatt of capacity dedicated to powering high-end computing chips for AI-related projects (Bloomberg). A gigawatt is a massive amount of power — roughly what a large nuclear plant produces. In this case, all of that energy would go toward running the specialized computer chips that train and operate AI systems.

The $13 billion figure is notable for its size. Building a data center at this scale costs tens of billions once you add up the land, the building, the power systems, the cooling equipment, and the computer chips themselves. The financing package, as reported, covers the facility build-out. The chip costs may be handled separately, on Meta's own books or through leasing arrangements, though the reporting does not specify that breakdown.

What is clear is that Meta is turning to bank-led financing rather than paying for the whole project from its own cash. When Morgan Stanley and JPMorgan lead a deal like this, they typically gather a group of lenders to share the risk. For banks and other large lenders, financing AI data centers is a relatively new business. The bet here is less about the value of the real estate and more about how important the computing power is to Meta's strategy.

The broader context here is a building boom. Meta is one of a handful of giant tech companies — along with Google, Microsoft, and Amazon — racing to build more computing capacity for AI. A gigawatt-scale site is among the largest being built today. Just getting that much electricity lined up is a major challenge, and the site selection suggests Meta believes the power supply in the El Paso area can support the project, though the verified reporting does not detail the local grid.

For investors who lend money or track corporate debt, this deal matters because it could set a pattern. The size of the loan, how long it lasts, the interest rate, and what assets back it will collectively serve as a reference point for how future AI data center loans get put together. If a wide group of lenders participates, it will also show how the financial world prices the risk of AI infrastructure, where the computer chips may lose value much faster than the building and power systems they sit in.

For Meta's shareholders, the financing choice signals that the company is willing to borrow money for specific projects rather than absorbing the full cost against its profits. That affects how quickly AI spending shows up on the company's financial statements. The structure also matters for Meta's overall debt levels, though a single $13 billion loan, while large on its own, needs to be weighed against the company's full financial picture, which is not specified in the verified reporting.

The El Paso project remains at the financing stage. The October 2025 announcement established the building plan and the gigawatt target; the May 2026 Bloomberg report narrowed the picture to a location, a dollar figure, and the banks involved. Construction timelines, power agreements, chip details, and the final financing have not been disclosed. What can be said is that Meta is advancing a project whose cost would rank among the largest single-site data center financings, and the involvement of two top Wall Street banks signals real confidence in the AI infrastructure business.