Meta in talks to raise $35 billion for data-center financing led by Apollo
Apollo Global Management Inc. is in talks to lead a roughly $35 billion financing package for Meta Platforms Inc. to help develop data centers in the US, according to people with knowledge of the matter.
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The alternative asset manager has discussed providing a major part of the financing, said the people, who asked not to be identified because the information isn’t public. KKR & Co. is also a part of the investor group, one of the people said.
The funding conversations are at an early stage and there’s no guarantee a deal will be completed.
Representatives for the firms declined to comment.
Alternative asset managers have teamed up with technology giants before, but the potential deal with Meta stands out. Databricks Inc. previously secured more than $5 billion of financing from lenders including Blackstone Inc., Apollo and Blue Owl Capital Inc., while Apollo last year led an $11 billion investment in a joint venture with Intel Corp.
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