Tech giants acquire data center firm for $40B
4 min read
A consortium of technology and investment heavyweights announced Wednesday the acquisition of Aligned Data Centers in a $40 billion transaction, marking the largest data center deal on record as companies race to secure critical artificial intelligence infrastructure.
The AI Infrastructure Partnership (AIP), comprising BlackRock, Nvidia, Microsoft, and Elon Musk's xAI, will acquire the Dallas-based data center operator from Macquarie Asset Management. The deal, which includes MGX, an AI investment arm of Abu Dhabi's Mubadala Investment Company, is expected to close in the first half of 2026.
Strategic Infrastructure Play
This marks AIP's inaugural investment, part of an ambitious plan to deploy $30 billion in equity capital with potential to reach $100 billion including debt financing. The consortium was established in September 2024 specifically to accelerate investment in next-generation AI infrastructure, with additional backing from Kuwait Investment Authority and Singapore's Temasek.[1][2]
"By investing in Aligned Data Centers, we are advancing our mission to provide the essential infrastructure that will drive the future of AI," said BlackRock Chairman and CEO Larry Fink, who also chairs AIP.[1]
Aligned operates 50 data center campuses across the United States and Latin America, boasting more than 5 gigawatts of operational and planned capacity. The company specializes in hyperscale infrastructure for cloud providers and enterprises, with patented cooling technologies designed to support high-density AI workloads.[2][3][1]
AI Infrastructure Arms Race
The acquisition underscores escalating competition to secure computing capacity as companies develop increasingly sophisticated AI models. Recent months have witnessed a flurry of mega-deals, with OpenAI disclosing agreements totaling approximately 26 gigawatts of computing power and Nvidia committing up to $100 billion for OpenAI's infrastructure expansion.[1][2]
Under Macquarie's ownership since 2018, Aligned expanded from two facilities with 85 megawatts to its current scale, representing what Macquarie called "the largest to date for global data centers". CEO Andrew Schaap will continue leading the company from its Dallas headquarters.[3][4][1]
The transaction reflects broader industry trends, with analysts estimating between $3 trillion and $4 trillion in AI infrastructure spending by decade's end. Industry observers note the critical nature of data center capacity as artificial intelligence applications demand unprecedented computing resources, creating supply constraints that have driven valuations to record levels.[5][6]
Reference sources:
[1](https://www.reuters.com/legal/transactional/blackrock-nvidia-buy-aligned-data-centers-40-billion-deal-2025-10-15/)[2](http://nvidianews.nvidia.com/news/openai-and-nvidia-announce-strategic-partnership-to-deploy-10gw-of-nvidia-systems)[3](https://www.businesswire.com/news/home/20251015016099/en/Macquarie-Asset-Management-to-Lead-Sale-of-Aligned-Data-Centers-at-an-Enterprise-Value-of-$US40-Billion)[4](https://www.businesswire.com/news/home/20251014427963/en/AI-Infrastructure-Partnership-AIP-MGX-and-BlackRocks-Global-Infrastructure-Partners-GIP-to-Acquire-All-Equity-in-Aligned-Data-Centers)[5](https://techcrunch.com/2025/10/10/the-billion-dollar-infrastructure-deals-powering-the-ai-boom/)[6](https://www.cnbc.com/2025/10/15/a-guide-to-1-trillion-worth-of-ai-deals-between-openai-nvidia.html)[1](https://www.reuters.com/legal/transactional/blackrock-nvidia-buy-aligned-data-centers-40-billion-deal-2025-10-15/)[2](https://www.businesswire.com/news/home/20251014427963/en/AI-Infrastructure-Partnership-AIP-MGX-and-BlackRocks-Global-Infrastructure-Partners-GIP-to-Acquire-All-Equity-in-Aligned-Data-Centers)[3](https://www.businesswire.com/news/home/20251015016099/en/Macquarie-Asset-Management-to-Lead-Sale-of-Aligned-Data-Centers-at-an-Enterprise-Value-of-$US40-Billion)