Meta Partners with Indiana to Build $800M AI-focused Data Center
Summary:
Tech giant Meta has agreed with Indiana officials to build a new $800 million AI-focused data center in Jefferson. The 700,000 square-foot facility will support Meta's global data requirements, and is expected to be operational by 2026. The project could create up to 1,250 construction jobs and 100 high-wage positions once complete. The center will run entirely on renewable energy. The development comes as Meta regains its spot in the trillion-dollar valuation club, largely due to its generative AI efforts. Indiana has offered Meta a sales tax exemption for the first 35 years of operation, which could be extended to 2074.
Tech titan Meta and Indiana have finalized agreements for the construction of Meta's new data center - an expansive 700,000 square-foot site which will cost an estimated $800 million. The new facility will be situated in Jefferson, a significant distance from the state's capital - around 825 miles. The news of the collaboration was released to the public by Meta and Eric J. Holcomb, Indiana's Governor, on January 25. The function of the center will be to cater to Meta's international data necessities, with particular emphasis on its artificial intelligence (AI) operations.
Details on the construction timeline indicate that the project will kick off in January and should be fully operational by 2026. When construction is underway, the data center plans to employ up to 1,250 workers. Upon its completion, the center looks to provide "100 high-wage jobs," according to a press release from Governor Holcomb’s office. In terms of environmental impact, Meta has ensured the site will meet green standards right from the launch, running entirely on renewable energy sources, and achieving LEED Gold certification.
This development arrives at a favorable time for Meta, which recently regained its spot in the trillion-dollar valuation league for the first time since 2021. Their stocks have experienced increased interest thanks to their dedicated effort in generative AI. On a related note, Meta plans to expand its total GPU count to 350,000 H100s to maintain an edge in the AI market.
Additionally, the state of Indiana is set to provide support to this mammoth project as well. Governor Holcomb's press release states that Meta is provisionally scheduled to benefit from a data center sales tax exemption for the initial 35 years of the campus's operation, and possibly extending these benefits through 2074. The company is also eligible for additional tax exemptions for a total of 50 years, provided an extra $800 million of eligible investment is made within the same timeframe at the site.
Published At
1/25/2024 9:05:01 PM
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