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Meta recently laid off 8,000 workers, which constituted 10% of its workforce, as part of a strategic shift to increase spending on AI development.
Meta CEO Mark Zuckerberg plans to build a data center named Hyperion that will span nearly 4,000 acres.
Meta's initial plan for its large AI data center cluster involved installing approximately one million GPUs.
The state of Louisiana amended its tax laws by inserting data center tax breaks into an existing rural broadband bill to incentivize Meta's investment.
A new Louisiana law provides a 20-year sales tax exemption on data center chips and equipment, with an option for a 10-year renewal.
The Louisiana state government changed its property laws to allow Meta to purchase a 1,400-acre plot of land in Richland Parish without a public bidding process.
Meta's power generation plan for the Hyperion data center expanded from an initial three natural gas plants to a proposed ten plants by March 2026.
Once operational, the Hyperion data center's power consumption could be equivalent to the entire city of New York on a winter day.
The construction of the Hyperion data center was funded through a $27 billion debt deal, one of the largest private capital deals ever assembled.
Meta holds only a 20% ownership stake in the Hyperion data center campus, with the private capital firm Blue Owl owning the remaining 80%.
Meta leases the Hyperion facility from a joint venture and has the option to terminate the lease every four years.
Meta has a market valuation of $1.5 trillion.