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Meta Partners with PIMCO and Blue Owl for $29 Billion Data Center Expansion in Louisiana

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Meta (META.O) has enlisted U.S. bond giant PIMCO and alternative asset manager Blue Owl Capital (OWL.N) to lead a $29 billion financing effort for its data center expansion project in rural Louisiana, according to a source familiar with the matter. PIMCO is expected to manage approximately $26 billion in debt financing, likely issued through bonds, while Blue Owl will contribute around $3 billion in equity.

Bloomberg News earlier reported that Meta had been working with Morgan Stanley (MS.N) on raising funds, with Apollo Global Management (APO.N) and KKR (KKR.N) also in contention to lead the financing until the final stages of negotiations. Meta, PIMCO, and Blue Owl declined to comment on the details.

This financing move supports Meta’s broader push to build AI infrastructure. Recently, the company disclosed plans to divest about $2 billion in data center assets as part of a co-development strategy to share construction costs for generative AI facilities. CEO Mark Zuckerberg has announced intentions to invest hundreds of billions into AI data centers, including the upcoming Prometheus and Hyperion centers—expected to come online in 2026 and scale to 5 gigawatts respectively.

The initiative underscores Meta’s aggressive investment in AI technology amid an ongoing talent war for engineers and competition in the AI sector.

T-Mobile Ends DEI Programs Amid FCC Approval Push for Major Deals

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T-Mobile US announced on Wednesday that it is terminating its diversity, equity, and inclusion (DEI) programs as it seeks approval from the Federal Communications Commission (FCC) for two significant transactions. In a letter to FCC Chair Brendan Carr, made public the same day, T-Mobile confirmed it is ending all DEI-related policies “not just in name, but in substance.”

The wireless carrier will eliminate any individual roles or teams dedicated to DEI, remove all DEI references from its websites, and strip DEI content from employee training materials. FCC Chair Carr welcomed the move, calling it “another good step forward for equal opportunity, nondiscrimination and the public interest.”

T-Mobile is awaiting FCC clearance to acquire most of regional carrier United States Cellular’s wireless operations, including customers, stores, and 30% of its spectrum assets, in a $4.4 billion deal. The FCC is also reviewing a separate deal where T-Mobile plans to form a joint venture with investment firm KKR to acquire internet service provider Metronet, which serves over 2 million homes and businesses across 17 states. T-Mobile intends to invest approximately $4.9 billion for a 50% stake in the joint venture and full ownership of Metronet’s residential fiber operations upon closing.

However, the decision has drawn criticism from FCC Commissioner Anna Gomez, a Democrat, who called T-Mobile’s move “a cynical bid to win FCC regulatory approval” and accused the company of mocking its stated commitments to fighting discrimination and promoting fairness.

This is not the first time the FCC, under Chair Carr, a Trump appointee, has linked approval of telecom mergers with the dismantling of DEI programs. In May, the FCC approved Verizon’s $20 billion acquisition of Frontier Communications’ fiber-optic assets after Verizon agreed to end its DEI initiatives following an FCC investigation. Earlier in the year, Carr also opened a probe into Comcast’s promotion of DEI programs.

The rollback of DEI efforts follows former President Trump’s executive orders in January aimed at dismantling government-backed DEI programs and pressuring private companies to follow suit.

ByteDance Investors Lead Talks on TikTok U.S. Spin-Off Amid National Security Concerns

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Discussions surrounding the future of TikTok are gaining momentum, with the leading non-Chinese investors in its parent company ByteDance taking the reins in talks with the White House. The proposed plan involves spinning off TikTok’s U.S. operations into a separate entity while reducing Chinese ownership to below 20% to meet U.S. legal requirements and avoid a potential ban.

Key figures in the talks include Jeff Yass’ Susquehanna International Group and Bill Ford’s General Atlantic, both of which have stakes in ByteDance and sit on its board. Private equity firm KKR is also reportedly involved in the negotiations. The proposed spin-off would see these investors increase their stakes, and software giant Oracle would continue managing U.S. user data, ensuring it remains inaccessible to Chinese authorities.

This plan follows a law passed in January that mandates ByteDance either sell TikTok or face a national security ban, citing concerns over the app’s ties to the Chinese government. While TikTok has defended its operations, emphasizing the independence of its U.S. data storage and content moderation practices, the law reflects broader concerns in Washington about potential influence operations through the app.

The ongoing discussions have significant implications for TikTok’s future in the U.S., where nearly half of Americans use the app. With the deadline for compliance set for April 5, U.S. investors are moving quickly to finalize the deal, which could potentially reshape the app’s ownership structure while addressing security concerns.