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Meta has selected Pacific Investment Management and Blue Owl to secure a $29 billion financing deal backing its Louisiana data center expansion, Bloomberg reported. Pimco will issue $26 billion in debt, while Blue Owl is expected to provide $3 billion in equity.

The parent company of Facebook and Instagram tapped Morgan Stanley to raise the capital in a competitive process, which included large private equity firms such as Apollo and KKR. Other investors could enter the deal at a later stage.