Data Center News

Stack Infrastructure concludes its second $250 million debt financing of 2023

$250 million in securitized notes have been issued as part of Stack Infrastructure's second round of structured debt financing for 2023. The funding round began a month ago with an initial goal of raising $100 million, which has since more than doubled. Since 2019, Stack has raised $2.3 billio...

August 02, 2023

STACK INFRASTRUCTURE

Costs projected to rise as meta capex for data centers, servers, and networks reaches $6.4 billion

In the last quarter, Meta's capital expenditures reached $6.4 billion due to investments in data centers, servers, and network infrastructure. This is a decrease from the $7.1 billion the company spent in the previous quarter, but the Facebook proprietor is now done with a data center restruct...

July 28, 2023

Meta

Stack Infrastructure intends to raise $100 million in secured notes

Stack Infrastructure seeks to raise $100 million by issuing securitized notes. After raising $250 million in March, this will be Stack's second fundraising round this year and sixth overall. It will begin on July 24.The notes have received an A-2 rating from S&P Global. This is presently s...

July 26, 2023

STACK INFRASTRUCTURE

Meta shares details on AI progress and data center redesign

After announcing that it was canceling or pausing data center projects that were in mid-development last year, Meta has finally revealed some details on its AI-optimized data centers. The giant has shared that it is working on a custom chip "family" to bolster the efficiency of its data center...

May 25, 2023

Meta

rPlus Energies signs 200MW PPA with Idaho Power, supporting Meta

rPlus Energies has announced that it has signed a 200MW power purchase agreement (PPA) with Idaho Power, which has a special energy services agreement with Meta; output from the project will go into the same grid supporting Meta's new Kuna data center. The Ada County, Idaho solar farm, known a...

May 24, 2023

Meta

Water requirements for Meta’s Toledo town data center released

Details regarding Meta's water consumption at a planned data center in Toledo have been released, revealing that yearly the facility will guzzle an estimated 660 million gallons of water. The facility was given the green light by Castilla-La Mancha back in March as a PSI, due to the economic i...

May 18, 2023

Meta

The circular economy in action at Meta's Gallatin data center through new mushroom project

In an effort to curb construction waste, Meta has announced a new project that is using mushrooms to help mitigate some of the 660 million tons of waste sent to landfills and incinerators each year. The giant has been working with Mycocycle, a tech company in the zero-waste market, to pilot th...

April 27, 2023

Meta

Stack Plans to Setting up Two San Jose Data Centers

Stack has applied for approval to expand its San Jose, California data center campus. This week, the San Jose City planning commission will consider Stack's request to construct two data centers at 2400 Ringwood Avenue and 1880 Fortune Drive in Santa Clara County, as first reported by SF Yimby...

April 26, 2023

STACK INFRASTRUCTURE

Meta Redesigned its Data Center After Abandoning AI Chip Rollout And Switching to Nvidia GPUs

Reuters reports that Meta abandoned plans to release its own artificial intelligence processor and instead adopted Nvidia GPUs. Initial use of CPUs for AI training and chips for inference caused the company to fall behind in AI development. The switch to GPUs necessitated the redesign of its d...

April 26, 2023

Meta

Meta signs PPA in Texas

Meta has announced that it has signed a new PPA for solar energy. The PPA, with Avangrid, will see the giant source 240MW of energy from the True North solar farm which is currently under development in Falls County, Texas, the former's first in the state. The solar farm is set to launch in e...

March 23, 2023

Meta

Stack offers backup generator power to Swiss confederation's Winter Reserve

Stack Infrastructure has signed up for the Swiss Winter Reserve Plan, through which it will provide its supplemental power capacity to the Swiss energy reserve, in line with the Federal Council's ordinance. The ordinance includes measures to prevent winter power shortages and will run until A...

March 17, 2023

STACK INFRASTRUCTURE

Stack Raises $250m From securitized Notes

The data center company Stack has completed its most recent structured debt fundraising round. The company revealed the sale of $250 million in securitized notes last week. The price of the notes is a 5.900 percent fixed rate coupon. The firm said it has now raised $2.1 billion in notes thr...

March 17, 2023

STACK INFRASTRUCTURE

Meta Will Terminate 10,000 More Workers

After letting go of around 11,000 workers in the latter part of last year, Meta aims to let go of about 10,000 individuals. As part of CEO Mark Zuckerberg's 'Year of Efficiency' appeal to investors to improve a falling share price, the corporation will also eliminate 5,000 unfilled position...

March 15, 2023

Meta

More layoffs in store at Meta

Meta's job cuts continue, with the announcement last week that the giant is driving forward with its so-called "year of efficiency." CEO Mark Zuckerberg first announced massive cuts back in November; now, thousands more are set to be laid off. According to experts, while the first cuts were a...

March 13, 2023

Meta

Stack Infrastructure Will Raise $250 Million to Expand Its Data Center

Stack Infrastructure plans to seek $250 million for data center expansion. The Stack Infrastructure Issuer will provide the funding, 2023-1, through the securitization of income connected to lease obligations and electrical capacity at 8 wholesale data centers in seven U.S. states. S&P Glo...

March 08, 2023

STACK INFRASTRUCTURE

Meta Sells Mesa Property to EdgeCore Data Centers

Meta has sold a property in Mesa, Arizona, to the developer of data centers, EdgeCore Internet Real Estate, for $1.2 million. The lot, situated at 3856 S. Everton Terrace and comprising approximately 15 acres of land, has been acquired by EdgeCore as part of its substantial investment in th...

February 24, 2023

Meta

Meta Plans To Save $4bn On Data Centers And Create New AI Facilities Faster and Cheaper

In a cost-cutting effort, Meta claims to have rebuilt its data centers to be less expensive and quicker to build. Meta canceled or paused data centers worldwide and redesigned them for additional artificial intelligence demands late last year. Facebook's Danish data center development and Texa...

February 08, 2023

Meta

Meta signs solar PPA with BP for solar farm in Ohio

Meta has signed a PPA with BP to source renewable energy from an upcoming a 134MWdc (107MWac), 675-acre Arche Solar farm project in Ohio, developed by BP 50:50 joint-venture partner and subsidiary Lightsource BP. The social media company will reportedly receive 100% of the power from the site...

January 12, 2023

Meta

Meta's Kuna, Idaho, data center paused as part of wider AI redesign plans

The latest data center to take the hit in Meta's AI redesign rethink is its Kuna, Idaho, data center. The facility, an $800 million development, was only announced by the giant in February, with the company commencing work on the project in September. Kuna data center paused as p...

January 02, 2023

Meta

Meta hits pause on Huntsville, Alabama, data center expansion

Meta has paused construction on its data center expansion in Huntsville, Alabama. This follows the giant’s announcement that its Odense, Denmark project was being completely canceled, and its Temple, Texas development was being paused as part of a wider AI data center design change. The Hunts...

December 21, 2022

Meta

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