Technology giant Meta Platforms (META) is building its 30th data center in Beaver Dam, Wisconsin.
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The Silicon Valley-based company said its latest data center is designed to support advanced artificial intelligence (AI) research and applications. Meta said it continues to build data centers in the Beaver Dam area because of its reliable infrastructure and skilled workforce.
The company’s investment in its 30th Wisconsin data center will exceed $1 billion and create more than 100 operational jobs once completed. The project will also employ 1,000 construction workers, said Meta Platforms.
Energy Needs
Meta added that it plans to spend nearly $200 million on energy infrastructure improvements, including network upgrades, utility substations, and transmission lines at its latest data center location. As part of its community commitment, Meta said that it is donating $15 million to Alliant Energy’s (LNT) Hometown Care Energy Fund to help local families with their home energy costs.
The tech company will also launch Data Center Community Action Grants next fall to provide funding for schools and local organizations in the Beaver Dam, Wisconsin area. Plus, in partnership with Ducks Unlimited, Meta is restoring 570 acres of wetlands and prairie surrounding the Wisconsin data center, with approximately 175 acres being deeded to Ducks Unlimited for its revitalization efforts.
Is META Stock a Buy?
The stock of Meta Platforms has a consensus Strong Buy rating among 42 Wall Street analysts. That rating is based on 34 Buy, seven Hold, and one Sell recommendations issued in the last three months. The average META price target of $843.56 implies 38.51% upside from current levels.
