The Indicator from Planet Money Who's financing Meta's massive AI data center?
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Nov 25, 2025 In rural Louisiana, Meta is constructing a staggering $30 billion AI data center called Hyperion. But they're not footing the bill alone; private credit is playing a crucial role in financing. The conversation dives into the opaque world of data center investments, raising concerns of a potential bubble fueled by loose credit. Industry experts weigh in on the risks and justifications behind such massive spending, while details about investor protections and the lease structure add layers to the discussion.
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Rural Roads, Massive Construction
- Trucks rumble down two-lane highways to a massive construction site in rural northeastern Louisiana.
- When done, the site will house 4 million square feet powering Meta's AI ambitions.
Meta's $30B Hyperion Build
- Meta is building Hyperion, a roughly $30 billion AI data center in northeastern Louisiana.
- The project's scale signals how much physical infrastructure AI now requires.
Nontraditional Ownership Structure
- Meta partnered with private credit firm Blue Owl, which owns 80% while Meta holds 20%.
- Blue Owl borrowed $27 billion in bonds and will recoup via rent paid by Meta.