Meta Platforms has tapped U.S. bond giant PIMCO and alternative asset manager Blue Owl Capital to spearhead a $29bn financing package for its new large-scale AI data centre project in rural Louisiana, according to a source cited by Reuters.

Under the plan, PIMCO will manage approximately $26bn in debt, expected to be issued in the form of bonds, while Blue Owl will contribute $3bn in equity. The package will fund Meta’s significant expansion of its AI infrastructure, a core part of its long-term strategy.

The fundraising process was advised by Morgan Stanley, with Apollo Global Management and KKR reportedly among the contenders until the later stages of negotiations.

The financing underscores growing private markets involvement in funding next-generation digital infrastructure. Last week, Meta announced it would divest about $2bn worth of data centre assets through a co-development approach aimed at sharing the capital burden of building generative AI facilities.

In July, CEO Mark Zuckerberg revealed that Meta’s superintelligence division would invest hundreds of billions of dollars in multiple large-scale AI data centres. The first facility, Prometheus, is scheduled to go live in 2026, while the planned Hyperion site could scale to 5 GW of capacity.

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