Meta (NASDAQ:META) is lining up roughly $29 billion from private equity and debt markets to bankroll a massive AI data-center expansionand it’s sweetening the deal with clean-energy pacts and top AI talent hires.

According to the Financial Times, Meta has held talks with Apollo, KKR, Brookfield, Carlyle and PIMCO to secure about $3 billion in equity and $26 billion in debt, although the final mix could shift if Meta decides to upsize the raise. The social-media behemoth is keen to make its bonds highly tradable once issued.

• Warning! GuruFocus has detected 6 Warning Sign with META.

Meanwhile, Zuckerberg’s team has been raiding OpenAI for researchers and tapped Scale AI’s CEO, Alexandr Wang, to spearhead its superintelligence effortsbacked by a $14.3 billion investment in Scale.

Data-center build-outs for AI are capital-hungry ventures, and Meta’s approachblending private capital, debt, renewable-energy deals and talent poachinghighlights how Big Tech is racing to lock in infrastructure, power and people before rivals. It also underscores growing market confidence that AI deployments will generate strong returns, even as balance sheets take on higher leverage.

The deal’s success will hinge on investor appetite for ultra-long dated debt and Meta’s ability to integrate its new hires and green-power agreements into a coherent, scalable AI strategyespecially as many of these projects won’t turn profitable for years.

This article first appeared on GuruFocus.