Meta Platforms' (NASDAQ:META) multibillion-dollar bet on artificial intelligence is drawing attention from Wall Street, Washington, and consumer advocates.
The company's massive Louisiana data center project, "Hyperion," has become a flashpoint in its ambitious AI expansion plans.
President Donald Trump announced that Meta has earmarked $50 billion for its Louisiana data center, "Hyperion."
Also Read: Meta Boosts Green Energy With New Solar Deal, Supports AI Data Center Growth
During a Cabinet meeting, Trump expressed his intimidation at the cost of the data center project, Bloomberg reported on Wednesday.
Meta has confirmed that its spending on the facility will surpass $10 billion, underlining its aggressive infrastructure push.
Benzinga has contacted Meta Platforms for comment on this development and is awaiting their response.
This initiative follows Meta's decision in June to place its AI operations under Superintelligence Labs after key leadership exits and a lackluster reception of its open-source Llama 4 model.
CEO Mark Zuckerberg has since doubled down on plans to build a network of massive AI data centers, fueling a broader transformation of Meta's business strategy.
Entergy (NYSE:ETR) defended the plan, citing hundreds of high-paying jobs, while critics warned it could saddle ratepayers with billions more in expenses as tech firms' energy demands surge.
He also pointed to higher third-quarter guidance, tax benefits, and R&D credits as catalysts for long-term cash flow growth, calling Meta one of the most compelling AI investments despite elevated investor expectations.
Price Action: Meta stock is trading lower by 0.03% to $753.85 premarket at last check Wednesday.
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