Meta has entered a joint venture with funds managed by Blue Owl Capital to develop and operate the Hyperion Data Center campus in Richland Parish, Louisiana. The project, with total development costs of approximately $27 billion, will expand Meta’s data center infrastructure to support its AI initiatives. Under the agreement, Blue Owl-managed funds will hold an 80% interest, while Meta retains 20%. Meta will provide construction and property management services and has contributed land and construction-in-progress assets related to the campus. Blue Owl’s funds made a cash contribution of about $7 billion, and Meta received a one-time distribution of roughly $3 billion from the joint venture.
Meta CFO Susan Li said the partnership “is a bold step forward—combining Meta’s deep expertise in building and operating world-class data centers with Blue Owl’s strength in infrastructure investment.” Blue Owl Co-CEOs Doug Ostrover and Marc Lipschultz called the Hyperion project “an ambitious project that reflects the scale and speed required to power the next generation of AI infrastructure.” Construction is underway, with thousands of workers currently on site. Once operational, the campus is expected to support more than 500 permanent jobs.