Social media giant Meta has secured an agreement with Blue Owl Capital to finance its massive Hyperion data center in Richland Parish, Louisiana. The financial backing equates to approximately $27 billion in debt and an additional $1.5 billion in equity.

The deal, facilitated by Morgan Stanley, allows Meta to retain 20% ownership of the data center while ensuring the transaction does not affect its financial statements. The debt is structured to mature by 2049, with Meta leading construction and operational oversight.

The Hyperion project, initially estimated at $10 billion, will now reach a capacity of over five gigawatts, marking it as one of the most ambitious AI infrastructure projects. To support this expansion, a natural gas plant is planned, set to bolster the site’s power resources.

Alongside Hyperion, Meta is also expanding with a Texas data center named El Paso and another project in Ohio coined Prometheus. Both ventures are part of Meta’s expansive growth in computational capacity.