(Reuters) -Meta has selected investment management firm Pimco and alternative asset manager Blue Owl Capital for a $29 billion financing deal related to its data center projects in rural Louisiana, Bloomberg News reported on Thursday.

Pimco is set to lead the $26 billion debt component of the financing, while Blue Owl will contribute $3 billion in equity, the report said, citing people familiar with the matter.

The debt portion is likely to be issued in the form of bonds, the report added.

Last month, Meta CEO Mark Zuckerberg said that the company would spend hundreds of billions of dollars to build several massive AI data centers for its superintelligence unit, intensifying his pursuit of a technology he has chased with a talent war for top engineers.

The Facebook parent has been working with Morgan Stanley to raise funds, while Apollo Global Management and KKR were also in the running to lead the deal until the closing stage of negotiations, the Bloomberg report added.

Meta, Pimco and Blue Owl declined to comment on the report.

In June, the Financial Times reported that Meta was seeking to raise $29 billion from private capital firms to build AI data centers in the U.S., adding that the company is debating how to structure the debt raising and also options to raise even more capital.