BlackRock's GIP and Microsoft-backed AI group acquire Aligned Data Centers for $40 billion

By: Lamar Johnson | ESG Dive Reading Time: 3 min

Dive Brief

• BlackRock's Global Infrastructure Partners (GIP), UAE-based technology investment firm MGX, and buyers under the Artificial Intelligence Infrastructure Partnership (AIP) have closed the acquisition of data center developer Aligned Data Centers for $40 billion.
• The buyers will purchase 100% of the equity in Aligned Data Centers, which owns over 6.4 gigawatts of operational and planned data center capacity, from Macquarie Asset Management, according to a Tuesday release.
• The deal was first announced in October at the same $40 billion valuation. BlackRock, Microsoft, and Nvidia, along with MGX and GIP, launched the AI Infrastructure Partnership in September 2024 to invest in next-generation AI infrastructure.

Dive Insight

The AI Infrastructure Partnership was established to initially mobilize $30 billion to scale AI and data technology infrastructure. The acquisition of Aligned Data Centers represents AIP's first investment, according to a July 21 press release.

Aligned Data Centers will remain a Dallas-headquartered company led by CEO Andrew Schaap and its existing management. AIP, GIP, and MGX will also provide $5 billion in additional capital for expansion.

Schaap said in a LinkedIn post Tuesday that the acquisition and additional capital commitment will allow Aligned to "move quicker and build bigger than ever before."

"This milestone reflects the skill of our remarkable team and the strength of the platform we've built — and it stands among the largest private investments the digital infrastructure sector has ever seen … at a time when demand for what we do has never been higher." — Andrew Schaap, CEO, Aligned Data Centers

Aligned's data center capacity is spread across 51 locations, primarily in the U.S., with others in Mexico and South America, according to its website.

AIP, GIP, and MGX said they will provide the company with strategic insights into AI technologies and bring experience investing in and owning "complex infrastructure at scale." The release also noted that the purchasers are supplying:

• A supportive partnership model
• Long-term capital required for Aligned to scale its platform
• Continued customer and community focus
• Operational independence

BlackRock CEO Larry Fink — who also serves as chair of the AI Infrastructure Partnership — said in the release announcing the deal last year that the investment will "further [the group's] goal of delivering the infrastructure necessary to power the future of AI, while offering our clients attractive opportunities to participate in its growth."

Story Continues

Since the AI Infrastructure Partnership launched, the following entities have joined AIP as members:

• xAI (owned by Elon Musk)
• Temasek (Singapore sovereign wealth fund)
• Kuwait Investment Authority

The group also counts Cisco as a tech partner and has agreements with GE Vernova and NextEra Energy to help scale AI data center infrastructure. The partnership has a remit to support up to $100 billion in total investments.

The acquisition comes as a new report from the Kansas Health Institute found that U.S. data centers' electricity usage could more than double.

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