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A $40B data-center buy just grew by another $5B
BlackRock, MGX, and AIP closed the record $40 billion Aligned Data Centers deal, then added $5 billion to expand AI-ready capacity.
Image: TNW
A consortium led by BlackRock’s Global Infrastructure Partners, MGX, and the AI Infrastructure Partnership has completed the largest data-center acquisition on record, buying all the equity in Aligned Data Centers at a valuation of about $40 billion.
The seller, Macquarie Asset Management, had owned the Texas-based developer since 2018. At that point, Aligned operated two sites with 85 megawatts of capacity. It now spans 51 campuses and more than 6.4 gigawatts of live or planned capacity across the US and South America.
The spending did not stop at closing. According to Bloomberg, the buyer group also committed a fresh $5 billion in growth capital to expand Aligned’s AI-ready capacity. The bet is straightforward: demand for computing power will continue to outpace supply, making facilities with power and cooling increasingly scarce and valuable.
The buyer roster is stacked with major capital players. AIP was formed in 2024 by BlackRock, GIP, MGX, Microsoft, and Nvidia. This is its first deal, and part of a broader plan to raise $30 billion in equity and as much as $100 billion including debt.
MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan of Abu Dhabi’s royal family, is backed by Mubadala and G42. This month, it raised $49 billion for what the source describes as one of the largest AI funds ever. GIP, now part of BlackRock, manages more than $200 billion.
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The deal lands amid a rush into digital infrastructure. KKR, Brookfield, and others have been pouring money into the sector, while Blackstone paid about $10 billion for QTS in 2021. Aligned has pitched itself on efficiency, with more than 50 patents tied to cooling technology designed to reduce water and power use as large campuses put increasing strain on local grids.
Andrew Schaap, Aligned’s chief executive, and his team will remain in place. For the new owners, the logic is clear enough: if AI demand keeps rising, $45 billion for 6.4 gigawatts could look cheap.
Enterprise Editor
Marcus follows the money. He covers enterprise software, cloud architecture, and the tectonic shifts in Big Tech strategy. He translates dense earnings calls and complex M&A activity into actionable insights about where the industry is actually heading. If a tech giant makes a silent pivot, Marcus is usually the first to notice.
via TNW
