In one of the largest infrastructure acquisitions of the year, an investor consortium led by BlackRock, Microsoft, and Nvidia has agreed to purchase Aligned Data Centers, a U.S.-based hyperscale operator, in a $40 billion deal. The move marks a major milestone for the AI Infrastructure Partnership, a global investment alliance formed last year to accelerate computing capacity for next-generation artificial intelligence systems.
The acquisition from Macquarie Asset Management gives the consortium control of nearly 80 data centers across the United States and Latin America, providing over 5 gigawatts of operational and planned capacity. Once finalized in early 2026, the transaction will make Aligned one of the world’s most valuable privately held data center companies.
Securing AI Compute Capacity Amid Industry-Wide Shortages
AI infrastructure demand has surged as major technology players race to expand compute capacity. According to Morgan Stanley, global AI infrastructure spending is projected to exceed $400 billion in 2025, with companies like Google, Amazon, Meta, and CoreWeave investing heavily in AI-specific facilities.
Larry Fink, Chairman and CEO of BlackRock and chair of the AI Infrastructure Partnership, said the investment “furthers our goal of delivering the infrastructure necessary to power the future of AI.”
Aligned’s facilities will play a pivotal role in supporting the consortium’s AI-driven ambitions. The company already hosts cloud platforms such as Nutanix and Datto, and holds strategic land portfolios with access to critical power resources — a major competitive advantage in the ongoing global race for AI-ready data centers.
A Growing Market for AI-Optimized Infrastructure
Founded in 2013, Aligned Data Centers has been one of the fastest-growing private operators in the AI and cloud infrastructure space. Earlier this year, it raised $12 billion in equity and debt, underscoring the investor appetite for scalable compute assets.
Industry experts note that this deal signals a shift in data centers’ valuation, as they evolve from digital utilities to strategic AI infrastructure. Hendi Susanto, portfolio manager at Gabelli Funds, commented, “All the major parties in this consortium are showing the strength and momentum of the AI ecosystem.”
The partnership — which also includes Abu Dhabi-based MGX, Kuwait Investment Authority, and Singapore’s Temasek — has an initial deployment target of $30 billion in equity, potentially expanding to $100 billion including debt. The financial details of individual partner contributions remain undisclosed.
Aligned will remain headquartered in Dallas, Texas, under current CEO Andrew Schaap. The deal is expected to close in the first half of 2026, pending regulatory approvals.
