Key facts
- A consortium including BlackRock's Global Infrastructure Partners, Abu Dhabi's MGX, and the Artificial Intelligence Infrastructure Partnership (AIP) is acquiring Aligned Data Centers.
- The acquisition is valued at approximately $40 billion, making it the largest transaction in digital infrastructure history.
- The consortium has committed an additional $5 billion in growth capital to Aligned Data Centers.
- Aligned Data Centers specializes in adaptive designs with patented cooling technologies for high-density AI and hyperscale computing.
- The deal is expected to close in the first half of 2026, subject to regulatory approvals.
A consortium of heavyweight investors, including BlackRock's Global Infrastructure Partners, Abu Dhabi's MGX, and the Artificial Intelligence Infrastructure Partnership (AIP), is set to acquire Aligned Data Centers for approximately $40 billion. This deal marks the largest transaction in digital infrastructure history. In conjunction with the acquisition, the group has committed an additional $5 billion in growth capital to Aligned Data Centers.
Aligned Data Centers, founded in 2013 and headquartered in Dallas, specializes in adaptive data center designs with patented cooling technologies tailored for high-density AI and hyperscale computing workloads. The company operates over 50 data center campuses with more than 5 gigawatts of operational and planned power capacity.
The Artificial Intelligence Infrastructure Partnership (AIP), formed in September 2024, aims to raise $30 billion in equity for AI-centric infrastructure investments and includes members like Microsoft and NVIDIA. BlackRock Chairman Larry Fink, who also chairs AIP, highlighted the investment's significance for powering the future of AI infrastructure.
Aligned Data Centers had already been pursuing aggressive growth, having secured a $12 billion capital raise in January 2025, comprising $5 billion in equity and over $7 billion in debt. The company is also developing Project Caprock, a new $5 billion campus in Texas scheduled for completion in the first quarter of 2027.
The acquisition is expected to close in the first half of 2026, pending regulatory approvals. The significant concentration of AI infrastructure ownership among major players like NVIDIA, Microsoft, and BlackRock is anticipated to draw antitrust scrutiny. The expansion of these data centers could strain power grids and potentially impact renewable energy capacity, particularly in regions like Texas, a major hub for Bitcoin mining.