BlackRock Drops $4.9B for 80% of $14B El Paso Data-Center Campus
BLK sits 19% above its 52-week low of $917.39.
Summary
BlackRock is committing $4.9 billion in cash for an 80% stake in a $14 billion El Paso data-center campus, with roughly $12.5 billion in debt financing. The project targets 1GW of compute capacity by 2028, marking a major infrastructure push. This follows record Q2 results with $15.3 trillion AUM and $192 billion in net inflows, and the recent launch of spot Bitcoin ETFs. The firm also trimmed its Ganfeng Lithium H-share stake to 6.75% from 8.16%, while its IBIT Bitcoin ETF captured $183.4 million in net inflows on July 30, about 80% of the day's total U.S. spot Bitcoin ETF flows.
At the time of this announcement, BLK was trading at $1,095.00 on NYSE in the Finance sector, with a market capitalization of approximately $177.3B. The 52-week trading range was $917.39 to $1,219.94. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.