Deep Read: Why Meta pays junk-level interest on its AI loans despite top credit rating
The debt of the tech giants is reaching unprecedented heights. While the rating agencies are handing out top grades, experts are becoming increasingly concerned: when will the market collapse?
El Paso, Texas, is set to host a large data center for Artificial Intelligence, spanning four square kilometers and consuming a similar amount of electricity as three million households. The facility, expected to be operational by 2028, is being built by Meta, the parent company of Facebook. The project, code-named "Project Seafox", was negotiated in secret by the local authorities for 1.5 years.
Meta and its partner Blackrock raised $12.5 billion from bond investors to finance the project. The deal has raised concerns at the markets due to the financial arrangements made by the companies involved.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
