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<img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==" alt="The Meta AI logo on a smartphone in July 2025." loading="eager" height="640" width="960" class="yf-1gfnohs loader"/>
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<figcaption class="yf-8xybrv">The Meta AI logo on a smartphone in July 2025. In April, Meta mentioned it could invest up to $72 billion this year, emphasizing AI and data centers for training models.</figcaption>
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<p class="yf-1090901"><span class="news-dateline">(Bloomberg) --</span> In July, Morgan Stanley delivered an unexpected update to four major asset managers: they had reached the final round of a highly competitive private credit deal. However, collaboration was essential to clinch it.</p>
<p class="yf-1090901">Morgan Stanley arranged the competition between two groups to provide approximately $29 billion to Meta Platforms Inc. for the construction of a significant data center in Louisiana, intended to support the company's advanced AI models.</p>
<p class="yf-1090901">Due to the deal's magnitude, neither Meta nor Morgan Stanley wanted to depend on a single financial institution. To enhance reliability, they assembled Pacific Investment Management Co. and Blue Owl Capital Inc. into one team, while Apollo Global Management Inc. and KKR & Co. formed another, ensuring prompt funding availability.</p>
<p class="yf-1090901">In early August, Morgan Stanley awarded the deal to Pimco and Blue Owl, combining a major institutional bond firm with a rapidly advancing private credit player, as reported by Bloomberg.</p>
<p class="yf-1090901">This decision concluded an extensive process that initiated in early 2025, shortly after a dinner hosted by Morgan Stanley to engage asset managers in the financing of AI infrastructure. Complicated negotiations persisted for about eight months, longer than anticipated.</p>
<p class="yf-1090901">This represented a key achievement for Pimco, who is expanding beyond public debt. Together with Morgan Stanley, they will manage $26 billion in investment-grade bonds for the Meta initiative, while Blue Owl will contribute $3 billion in equity. This deal epitomizes the significant financial implications in the escalating AI sector.</p>
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