Meta Announces Plans For $1.5 Billion AI Data Center In El Paso
Synopsis
The Mark Zuckerberg-led company said the data center is designed to scale to a gigawatt and is intended to support its growing artificial intelligence workload.
Meta Platforms (META) announced on Wednesday that it is investing $1.5 billion to build a data center in El Paso.
META’s stock was down more than 4.5% in Wednesday’s midday trade. Retail sentiment around the company on Stockwits dipped to ‘bearish’ from ‘neutral’ territory while chatter remained at ‘high’ levels over the past day.
The Mark Zuckerberg-led enterprise said the data center is designed to scale to a gigawatt (GW) and is intended to support its growing artificial intelligence (AI) workload. It also touted that the plant will create 1,800 construction jobs at its peak and around 100 operational jobs once complete.
This new data center will be the third one the company has set up in Texas. According to the Meta Platforms, it has invested more than $10 billion in the state so far.
Get updates to this developing story <directly on Stocktwits.<
Read also: Ethereum, Solana Outpace Bitcoin Gains As Crypto Market Gains After Fed Signals More Scope For Rate Cuts
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.