Meta has agreed with Indiana on its latest data center project: a sprawling 700,000-square-foot, $800-million facility to be constructed in Jefferson, located about 825 miles from the state’s capital. This collaboration was revealed by Meta and Indiana Governor Eric J. Holcomb on January 25.
Stay in the know on crypto by frequently visiting Crypto News Today
This new facility is designed to cater to Meta’s worldwide data requirements, including support for its artificial intelligence (AI) operations.
Construction is set to begin in January, with a target completion date of 2026. It is expected to employ up to 1,250 people during “peak construction” and, according to a press release from Governor Holcomb’s office, will then support “100 high-wage jobs.”
“Once operational, the Jeffersonville Data Center will be supported by 100% renewable energy through our investments in new renewable energy projects and like our other data centers, will achieve LEED Gold certification.”
CryptoCaster Quick Check:
The expansion comes at an ideal time for the social media platform. Meta recently returned to the trillion-dollar club, making its first appearance since 2021.
Indiana is also pitching in. According to Governor Holcomb’s press release, Meta will receive a data center sales tax exemption for the first 35 years of campus operation, with the option to extend exemptions until 2074:
“For each additional $800 million of eligible investment made at the site within that time period, the company will be eligible for tax exemptions for an additional 5-year period, up to a total term of 50 years.”
The company’s stock has seen renewed vigor thanks to its efforts in the field of generative artificial intelligence. According to Cointelegraph, as business grows, Meta plans to increase its total GPU count to 350,000 H100s; in comparison, rival AI firm OpenAI trained ChatGPT with only about 10,000 GPUs.
W
e hope you enjoyed this article. Before you move on, we invite you to consider supporting CryptoCaster’s journalism.
Billionaire owners like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase) often have a strong influence on the hidden agendas surrounding the paradigm shift brought about by cryptocurrency and emerging Web3 technologies. CryptoCaster stands apart. We have no billionaire owner or shareholders to please. Our journalism is dedicated to serving the public interest in crypto development and institutional disruptions, not profit motives.
We avoid the pitfall of much U.S. and global media, which often resorts to false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency guide everything we do, we recognize that there is a right and wrong stance in the fight against fiat global banking interests and the monetary reconstruction driven by the emerging crypto ecology.
When we report on issues like the FTX, Binance, and Ripple crises, we’re not afraid to name names and uncover the truth. As a crypto sentinel, we offer a fresh, outsider perspective on global monetary disruption—something often missing from the insular American and European media bubble.
CryptoCaster’s paywall-free journalism is accessible worldwide thanks to our unique reader-supported model. This is made possible by readers like you. Your support keeps us independent, free from outside influence, and accessible to everyone, regardless of their ability to pay for news and information.
We are grateful for the ongoing monetary support from our readers. If you haven’t yet considered supporting CryptoCaster, please consider contributing just once from $1 or more in Bitcoin (satoshi) or Ether, or even better, support us monthly with a bit more. Scroll further down this page to find CryptoCaster’s wallet addresses.
Thank you.
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
SOL – DLvdMu85dW6pZMhw2E4S3pp81qQQGpy5UcdTsFEFBu4b
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
