PROJECT WATCH · INDUSTRIAL

Meta's Hyperion: What's Announced, What's Underway

A major artificial intelligence campus is taking shape in northeast Louisiana. American Factory Tracker examines its investment announcements, construction evidence, expected jobs, and the electricity infrastructure needed to turn the plans into operating capacity.

By Dora C. Winters

This Project Watch report is separate from American Factory Tracker's manufacturing database and does not count toward its investment or jobs totals.

Sources checked: September 30, 2026

Key facts

More than $50B

Announced investment

Announced investment associated with the development; not verified spending to date.

Source: Meta, July 2026.[A]

5 GW

Planned computing capacity

Planned capacity, not confirmed operating capacity.

Source: Louisiana Economic Development, July 2026.[B]

Underway

Construction

Meta reports construction began in December 2024.

Source: Meta, July 2026.[A]

About 1,000

Expected operating jobs

Separate from construction and indirect jobs.

Source: Louisiana Economic Development, July 2026.[B]

Initial package approved

Power approvals

Three gas plants approved in 2025; the expanded package remains under review.

Sources: Entergy and Louisiana Public Service Commission.[D, F, G]

Beginning in 2028

Initial operations target

Company target published September 2025; full-campus completion date not established in the sources reviewed.

Source: Engineering at Meta.[C]

Bottom line

Meta announced more than $50 billion in investment associated with its Richland Parish development in July 2026. Construction began in December 2024, but the sources reviewed do not establish total spending to date or a campus completion percentage.[A]

The planned campus would support 5 gigawatts of computing capacity and about 1,000 operating jobs. Those are future expectations, not current operating figures.[B]

Louisiana approved an initial package of three gas-fired power plants in 2025. A separate application for additional generation, storage, and transmission remains under review.[D, F, G] Meta's September 2025 engineering announcement targeted initial operations beginning in 2028; it did not establish a completion date for the entire 5 GW buildout.[C]

What is Hyperion?

Hyperion is Meta's planned AI computing cluster at its Richland Parish data-center campus in northeast Louisiana. Louisiana's July 2026 announcement describes an expanded campus approaching 10 million square feet.[B]

Its significance extends beyond the buildings: the project also requires substantial electricity generation and transmission. Following those dependencies helps readers understand how an investment announcement becomes usable infrastructure.

What do the investment figures mean?

Meta's July 2026 announcement describes more than $50 billion in investment in the Richland Parish region. AFT treats this as an announced investment figure, not an audited construction bill or a measure of money already spent.[A]

A separate October 2025 announcement describes approximately $27 billion in development costs for a joint venture covering campus buildings and long-lived power, cooling, and connectivity infrastructure. Funds managed by Blue Owl Capital hold an 80% interest, with Meta retaining 20%. Meta manages construction and leases the facilities.[E]

These figures describe different announcements and scopes. The reviewed disclosures do not provide a reconciliation between them. AFT therefore does not add them together or present the combined amount as a larger investment total.

What construction is confirmed?

Meta reports that construction began in December 2024 and that more than $1.6 billion in contracts had gone to Louisiana businesses by July 2026. Contracts awarded are evidence of economic activity; they are not a verified total of cash spent or work completed.[A]

The sources reviewed do not establish how many campus buildings are complete, how much computing equipment is installed, or how much capacity is operating. AFT does not assign a completion percentage.

How will it get enough electricity?

There are two distinct regulatory packages.

Initial package: In August 2025, Louisiana regulators approved three new gas-fired power plants and supporting transmission investments. Entergy projected that two plants in Richland Parish would enter service in late 2028 and a third at its Waterford site by the end of 2029. Approval permits the projects to proceed; it does not mean the plants are already supplying electricity.[D]

Expanded package: Entergy's March 2026 proposal includes seven additional gas-fired plants, battery storage, and approximately 240 miles of new high-voltage transmission lines.[F] Commission records identify 5,278 MW of proposed additional generation serving Meta subsidiary Evest LLC, adjacent to the previously approved development.[G]

The commission's May 2026 procedural order calls for consideration at its December 16, 2026 session. This is a scheduled regulatory milestone, not a promised approval date.[H] The September 2026 order addressed a subpoena dispute and did not approve the expanded power package.[G]

Entergy says its agreement is structured so Meta pays its full cost of service. That is the utility's stated arrangement; the final regulatory decision and its conditions remain important to assessing customer protections.[F]

When could it operate, and how many lasting jobs are expected?

Meta's engineering team said in September 2025 that Hyperion was expected to begin coming online in 2028 and could scale to 5 GW once finished. The sources reviewed do not establish a firm completion date for the entire campus. Initial operations and full buildout are different milestones.[C]

Louisiana's July 2026 announcement projects about 1,000 operating jobs, compared with 7,500 jobs at peak construction and approximately 1,900 indirect jobs in the region. These categories are separate and should not be presented as one permanent campus workforce.[B]

What should readers watch next?

Frequently asked questions

Sources

Follow the milestones behind the announcements with American Factory Tracker. Return to Project Watch for source-driven coverage of major American projects.

Project Watch briefs are separate from AFT's manufacturing database and are not included in tracker totals, rankings or industry aggregates.