Meta Platforms has announced plans to sell some of its data center assets worth $2 billion as part of a strategy to raise funding for the development of artificial intelligence infrastructure. About this informs Reuters.
The company stated that it is considering the possibility of cooperation with financial partners for the joint implementation of projects in the field of data processing centers. This approach should help fund the significant capital expenditures planned for next year.
“We are studying the possibilities of cooperation with financial partners for the joint development of data centers”, Meta’s CFO Susan Lee said during a teleconference after the financial results were released.
She clarified that the company still plans to cover most of the capital costs at the expense of its own resources, but some projects may be financed with the help of “significant external financing”.
In its quarterly report, Meta said it approved a plan to divest certain data center assets in June. The company also reclassified $2.04 billion of land and construction in progress as “held for sale.”
These assets are expected to be transferred to third-party companies over the next year to jointly implement data center projects. As of June 30, the total value of assets prepared for sale was $3.26 billion, according to the company’s financial report.
