Meta(WETA.US) bets big on AI infrastructure! Plans to invest 10 billion US dollars to build a data center in Texas, with investment scale increasing nearly 6 times

Meta Platforms (META.US) will invest over $10 billion to build a data center in El Paso, Texas. This amount is significantly higher than previously predicted, and is the latest in a series of major investments by the company to support its artificial intelligence (AI) ambitions. Meta initially announced the data center with a commitment of $1.5 billion, but the company stated in a blog post on Thursday that they would increase the investment. Meta said that the gigawatt-scale data center is expected to be operational by 2028 and will create over 300 on-site jobs. Meta also mentioned that with the increase in investment, their construction needs will grow, with an estimated 4,000 temporary workers expected on-site at the peak of construction. Meta CEO Mark Zuckerberg has pledged significant funds to build the data centers, computing power, and talent needed to compete in the rapidly growing AI race. Meta expects its capital expenditures to reach $13.5 billion this year alone, with a focus on AI infrastructure projects. Zuckerberg has also committed to investing several hundred billion dollars in AI infrastructure projects by the end of this decade. At the same time, Meta is rapidly expanding its data center footprint, with over 30 data centers already operating or under construction. Many of the new projects are expected to have a capacity of at least 1 gigawatt, enough to power approximately 750,000 homes.