12:44 PM EST, 11/29/2024 (MT Newswires) -- Meta Platforms ( META ) is planning to build a 40,000-kilometer fiber-optic subsea cable that could cost over $10 billion, TechCrunch reported Friday, citing sources close to the company.

Meta will be the sole owner and user of this cable, which will link the east coast of the US to the west coast of the country via India, South Africa, and Australia, the media outlet reported.

The project is expected to start with a budget of $2 billion but the cost could rise significantly as the work progresses, TechCrunch reported, citing a subsea cable expert Sunil Tagare.

Meta's route for the cable will reportedly "avoid areas of geopolitical tension," such as the Red Sea, the South China Sea, Egypt, Marseilles, the Straits of Malacca and Singapore.

The project is still in the early stages, with plans laid out but no physical work or budget details confirmed yet, unnamed sources reportedly told TechCrunch.

Meta did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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