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00:02Meta raised its planned investment in an AI data center in El Paso to $10 billion from $1.5 billion
00:08and expects the site to reach 1 gigawatt of capacity by 2028.
00:13The project will create 300 jobs and require more than 4,000 construction workers at peak.
00:19Meta said it will add over 5,000 megawatts of clean power and is working on water restoration
00:24projects in Texas, including a partnership to bring running water to over 100 homes.
00:30The company said capital expenditures could reach up to $135 billion this year.
00:35The expansion comes as Meta increases AI spending while cutting costs elsewhere,
00:39including planned layoffs across multiple divisions.
00:42For all things money, visit Benzinga.com.
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