Meta's Hyperion AI data centre campus in Richland Parish, Louisiana has ballooned to a projected cost exceeding $200 billion, making it the most expensive single piece of private infrastructure in US history. The 4,000-acre campus will house up to nine buildings delivering 5 GW of compute, powered by 10 gas-fired plants built by Entergy generating 7+ GW. Financing is structured off-balance-sheet via a $27 billion deal with Blue Owl Capital owning 80% through a special-purpose vehicle, with BlackRock purchasing $3B+ in bonds. Meta's 2026 capex guidance has risen to $125–$145 billion, nearly double 2025 spending, while the company simultaneously cuts 8,000 jobs to partially offset costs. The project has strong political backing from Trump, Louisiana's governor, and local officials, and is expected to be operational by 2030. Environmental groups have raised concerns about the 10 natural gas plants, though Meta has committed to renewable energy offsets and is exploring nuclear power.
