BlackRock, Nvidia, and a group of major investors, including Microsoft, have announced a $40 billion deal to acquire one of the leading data center operators, Aligned Data Centers, according to Reuters. This acquisition marks the first transaction under the newly established AI Infrastructure Partnership, created in 2024 to support the expansion of AI computing infrastructure.
Aligned manages nearly 80 data centers across the U.S. and Latin America, with a current and planned capacity of around 5 gigawatts (GW). The investment aims to accelerate the growth of computational power in response to the surging demand for artificial intelligence technologies.
Other participants in the deal include the Abu Dhabi-based MGX Fund and Elon Musk’s AI startup xAI. Larry Fink, CEO of BlackRock, emphasized that the investment in Aligned is intended to develop the infrastructure required for the next generation of AI applications.
Earlier in 2024, Aligned secured over $12 billion in capital, positioning it among the largest recipients of funding in the data center sector.
Rising Interest in AI Infrastructure
Industry analysts see this deal as a reflection of growing investor interest in AI-focused infrastructure. Morgan Stanley estimates that global spending on AI data centers will exceed $400 billion in 2025 alone. Companies like OpenAI have already entered agreements with chip manufacturers Nvidia, AMD, and Broadcom to secure 26 GW of computing power—enough to match the electricity consumption of approximately 20 million U.S. households.
Tech giants such as Meta, Amazon, and Alphabet are also expanding AI-focused facilities, including projects like Prometheus and Hyperion, with a combined capacity of up to 5 GW. Within this context, Aligned’s acquisition represents a strategic move for the consortium to strengthen its position in the rapidly growing AI infrastructure market.
Aligned’s portfolio not only includes operational data centers but also land assets with access to energy resources in key markets. The company’s clients include Nutanix and Datto.
Handy Susanto, head of Gabelli Funds, noted that the deal highlights the strength of the AI ecosystem, bringing together some of the largest players in the market.
Investors, including the Kuwait Investment Authority and Temasek, plan to raise up to $100 billion in capital, including debt financing, to fund projects under the AI Infrastructure Partnership. After the deal closes—expected in the first half of 2026—Aligned will maintain its headquarters in Dallas, with Andrew Schaap continuing as CEO.
This transaction follows other major AI infrastructure investments, such as Google’s $24 billion commitment to expand AI capabilities in the U.S. and India.
