Meta Platforms is reportedly set to finalize a financing package of nearly $30 billion for its data center site in Richland Parish, Louisiana, in what is being described as the largest private capital deal on record. The deal, reported by Bloomberg News, involves a special purpose vehicle to finance the construction, with Meta retaining a 20% ownership stake in the Hyperion data center site. Blue Owl Capital will hold the majority ownership. Morgan Stanley arranged the debt and equity for the financing. This move is part of a broader race among large-scale cloud service providers to build out infrastructure to support artificial intelligence. The project is expected to be completed in 2029, with Meta serving as the developer, operator, and tenant. In other significant news, Meta has reportedly hired Andrew Tulloch, a co-founder of Thinking Machines Lab, in a deal potentially worth up to $1.5 billion over six years, signaling a strong commitment to acquiring top AI talent.