In one of the largest technology infrastructure deals ever announced, Nvidia, Microsoft, BlackRock, and Elon Musk’s xAI are part of a consortium that has agreed to acquire Aligned Data Centers for $40 billion. The acquisition, revealed Wednesday, marks the single biggest global data center transaction to date and underscores the accelerating race to expand AI infrastructure capacity worldwide.
Aligned, currently owned by Macquarie Asset Management, operates a network of advanced data centers and campuses across North and South America. The acquisition will give the consortium complete ownership of the company, positioning it at the forefront of next-generation computing power essential for artificial intelligence.
Deal Structure and Participants
The acquisition is led by MGX of Abu Dhabi, BlackRock’s Global Infrastructure Partners, and members of the Artificial Intelligence Infrastructure Partnership (AIP) — an initiative formed in September 2024 by BlackRock, MGX, Microsoft, and Nvidia to accelerate AI infrastructure investment. The group also includes the Kuwait Investment Authority, Temasek, and xAI, Elon Musk’s AI venture.
AIP’s stated goal is to deploy $30 billion in equity capital toward AI-related infrastructure projects. The Aligned acquisition marks its first major investment and signals the partnership’s commitment to developing the physical backbone for artificial intelligence — the data centers and computational networks required to sustain exponential growth in AI adoption.
Strategic Importance of the Acquisition
“With this investment in Aligned Data Centers, we further our goal of delivering the infrastructure necessary to power the future of AI, while offering our clients attractive opportunities to participate in its growth,” said Larry Fink, CEO of BlackRock and Chairman of AIP.
The move reflects an industry-wide recognition that AI advancement depends on robust and scalable data infrastructure. Data centers are critical facilities that host the high-performance servers, networking equipment, and storage systems used to train and operate large-scale AI models. Aligned Data Centers currently operates over 50 campuses with a combined 5 gigawatts of operational and planned capacity, putting it among the largest data center operators in the Western Hemisphere.
Global Race for AI Infrastructure
The acquisition comes amid a surge in AI infrastructure investments from technology leaders. Companies such as OpenAI, CoreWeave, Oracle, and Nvidia are committing billions to build hyperscale facilities capable of running increasingly complex AI workloads. These projects demand massive capital expenditures, specialized hardware, and reliable access to energy — areas where strategic partnerships like AIP can accelerate progress.
As AI model training and deployment consume unprecedented levels of computing power, expanding global data center capacity has become a top priority for both governments and corporations. The acquisition of Aligned is seen as a direct response to this demand, ensuring the infrastructure needed to support future generations of AI technologies.
Next Steps and Outlook
The Aligned Data Centers transaction is expected to close in late 2026, pending regulatory approvals and standard closing conditions. Once finalized, the deal will establish AIP as a dominant player in the data infrastructure market and may set the stage for similar high-value investments as AI reshapes global technology ecosystems.
With computing power now as valuable as capital itself, this acquisition highlights how the world’s biggest tech and finance players are converging to build the foundation of tomorrow’s AI economy.