Meta reportedly selected Pimco and Blue Owl to lead the $29 billion financing of data centers.

According to sources familiar with the matter, as competition in artificial intelligence intensifies, Meta Platforms Inc. has selected Pacific Investment Management Company and Blue Owl Capital Inc. to lead a round of $29 billion financing to expand their data center in rural Louisiana. Sources said that Pimco will lead the $26 billion debt portion, while Blue Owl will provide the $3 billion equity portion. These sources, who requested anonymity, stated that the debt portion may be issued in the form of bonds.