Meta is looking to raise as much as $35 billion to build data centers in the US.
Bloomberg reports that Apollo Global Management is in talks to lead the financing package, with KKR also part of the investor group.
Earlier this year, Meta said that it would spend around $65 billion on data centers and other capital expenditures in 2025. The company plans to bring a gigawatt of compute online this year, and is building a $10bn data center in Louisiana that could grow to 2GW.
Earlier this week, it was reported that Meta has visited potential sites for a $200bn AI data center campus, built out over a number of years.
The potential $35bn financial partnership is still in an early stage, and is not guaranteed. The proposal comes despite Meta sitting on a cash pile of $77.81bn, as of December.
Apollo has funded a number of data center and tech projects, including backing an Intel manufacturing plant, and last month the company acquired the owner of TierPoint.
This year, Microsoft plans to spend $80bn on AI data centers, Stargate some $100bn, and Google $75bn. Amazon's broader capex is expected to hit $100bn.
