Meta has named Dina Powell McCormick as its new president and vice chair. She will focus on developing government partnerships to finance and deploy data centers globally, as the company ramps up efforts to build its AI infrastructure. The initiative aims to secure significant computing power for Meta's artificial intelligence models.

Meta Platforms is in discussions to raise $29 billion from private capital firms to construct artificial intelligence data centers in the U.S. The company is engaging with several major investors, including Apollo Global Management and KKR, amidst rising demand for AI computing power.