A new investment consortium, backed by some of the biggest names in technology and finance, has agreed to purchase Aligned Data Centers in a transaction valued at approximately $40 billion. The deal unites chipmaker Nvidia and software giant Microsoft with asset manager BlackRock in a formidable partnership aimed at securing a massive share of the physical infrastructure required to power the ongoing artificial intelligence revolution.
The acquisition is one of the largest ever recorded in the data center sector and represents the inaugural investment for the recently formed Artificial Intelligence Infrastructure Partnership, or AIP. This move signals a strategic shift by major AI players to directly control the specialized real estate and power resources essential for training and deploying advanced AI models. By purchasing a major operator like Aligned, the group secures vast and highly coveted computing capacity, addressing a critical bottleneck in the global AI supply chain and positioning its members for future growth.
The Investment Consortium
The buyer, the Artificial Intelligence Infrastructure Partnership, was established to build and expand the essential foundations for AI. The group was founded in 2024 by BlackRock, its Global Infrastructure Partners unit, Abu Dhabi’s state-backed investment group MGX, and Microsoft. The consortium was later joined by Nvidia, Elon Musk’s xAI Corp., Singapore’s Temasek Holdings, and the Kuwait Investment Authority, creating a powerful alliance of capital, technology, and AI development. Cisco has also joined as a technology partner.
This acquisition is the first step toward AIP’s ambitious initial goal of mobilizing and deploying $30 billion of equity capital. With the inclusion of debt, the partnership could ultimately command an investment capacity of $100 billion. BlackRock CEO Larry Fink, who also serves as chairman of AIP, stated the acquisition allows the firm’s clients to directly participate in the expansion of AI and helps deliver the infrastructure necessary to power its future. The deal involves the purchase of 100% of the equity in Aligned from its current owner, Australia-based Macquarie Asset Management, and its co-investors.
Powering the AI Revolution
The acquisition addresses the voracious demand for computing resources that has been unleashed by generative AI. As artificial intelligence models become more sophisticated, they require immense data centers for training and operation, consuming vast amounts of energy and physical space. This has triggered a global race among technology companies to secure these critical assets. The transaction is part of a wave of recent deals by top AI developers to lock down the electricity and infrastructure needed to support their ambitions.
The scale of investment in the sector is staggering. According to estimates from Morgan Stanley, major technology companies like Alphabet, Amazon, Meta, and Microsoft are on track to spend a combined $400 billion on AI infrastructure in the current year alone. This intense competition for resources—from advanced semiconductor chips to the cooled, powered buildings that house them—makes direct ownership of data center providers an increasingly attractive strategy. The Aligned deal provides the AIP members with a significant and immediate footprint in this critical market.
Aligned’s Extensive Infrastructure
Founded in 2013, Plano, Texas-based Aligned Data Centers has become a major force in the industry. The company operates 50 data center campuses, amounting to a significant portfolio of digital infrastructure. Its operations are spread across key strategic digital hubs in the United States, including Northern Virginia, Chicago, Dallas, Phoenix, and Salt Lake City. The company is also building new sites in Ohio, Maryland, and Illinois.
Beyond the U.S., Aligned has a substantial presence in Latin America through its 2023 acquisition of OData, with facilities in Brazil, Chile, Colombia, and Mexico. This geographic diversity gives the company control over a broad and resilient network. In total, Aligned has over 5 gigawatts of operational and planned capacity, making it one of the largest operators in the world. Its business includes both renting colocation space to customers and building bespoke data center facilities for large enterprise and hyperscale clients. Following the acquisition, Aligned will continue to be based in Dallas and led by its current CEO, Andrew Schaap, and the existing management team.
Future Outlook and Market Context
The transaction is slated to close in the first half of 2026. For Aligned, the backing of the high-powered consortium promises to accelerate its growth and innovation. In a statement, CEO Andrew Schaap said that partnering with the consortium will advance the company’s mission to deliver the infrastructure for the digital economy. He noted that the global reach and deep expertise of AIP’s members across AI, energy, and finance will allow Aligned to scale faster and redefine sustainable data center infrastructure.
This deal exemplifies a larger industry consolidation trend, where the immense capital requirements of AI are forcing vertical integration. Tech companies can no longer simply be customers for data center space; they must become owners to guarantee the capacity they need. By securing Aligned’s assets, the AIP consortium not only acquires gigawatts of existing and planned capacity but also gains control over the supply chain for its future AI development, ensuring its members have the power and space needed to compete in the years to come.
