Meta Platforms Inc. has significantly expanded its Hyperion data center project in Richland Parish, Louisiana, with a total investment expected to exceed $50 billion. Initially announced in late 2024 with a $10 billion budget, the project was later estimated at $27 billion before the latest escalation. Hyperion is projected to deliver over 5 gigawatts of computing power, comparable to the energy use of hundreds of thousands of homes, drawing power from 10 new Entergy Corp. power plants, which will include a solar component.
Meta’s partnership with Blue Owl Capital involves a multibillion-dollar investment, in which Blue Owl secures an 80% stake; however, its role in the expansion remains unclear. The total estimated costs associated with the project could rise to $250 billion when factoring in the chips needed for operations.
Hyperion will utilize both Nvidia graphics cards and Meta’s custom-designed silicon, including the new MTI 500 chip, which promises enhanced performance for AI tasks. The project aims to create over 1,000 jobs and has already allocated approximately $1.6 billion in contracts to local businesses, with an additional $1 billion earmarked for local infrastructure improvements.
