A consortium led by AIP, MGX, and BlackRock's Global Infrastructure Partners (GIP) has snapped up Aligned Data Centers in a deal valued at $40 billion. The acquisition, which is being called record-breaking, includes $5 billion set aside specifically for growth. The move signals a major bet on the infrastructure that powers artificial intelligence.
The $40 billion bet on AI infrastructure
Aligned Data Centers, a company that builds and operates data centers designed for high-density computing, is now under the control of some of the biggest names in infrastructure and technology investing. The consortium includes AIP, a private equity firm focused on infrastructure, MGX, a tech investment firm backed by the UAE, and BlackRock's GIP, one of the largest infrastructure investors globally.
At $40 billion, the deal is one of the largest ever in the data center space. The $5 billion growth earmark suggests the new owners have plans to expand Aligned's footprint, likely to meet surging demand from cloud providers and AI companies that need massive computing power.
Why the record matters
Data centers have become a hot asset class as tech giants and startups alike scramble for capacity to train and run AI models. Aligned Data Centers specializes in what the industry calls “hyperscale” facilities — enormous warehouses packed with servers and cooling systems. The acquisition price reflects just how critical these facilities have become.
The consortium isn't buying just real estate. They're buying a platform that can be scaled up quickly. The $5 billion growth fund will let Aligned build new centers or upgrade existing ones, likely in key markets like northern Virginia, Dallas, and Phoenix.
Who's writing the checks
AIP, or American Infrastructure Partners, has been on a buying spree in energy and digital infrastructure. MGX, backed by the United Arab Emirates, has been placing big bets on AI and technology. BlackRock's GIP is the infrastructure arm of the world's largest asset manager, with a portfolio that includes airports, pipelines, and now data centers.
The combination of these three players gives the deal deep pockets and a global reach. Each brings a different angle: AIP with its operational expertise in U.S. infrastructure, MGX with its ties to Middle Eastern capital and AI ambitions, and GIP with its scale and experience in managing large assets.
The deal is expected to close later this year, subject to regulatory approvals. In the meantime, the consortium will start planning how to spend that $5 billion. The next move will likely be a series of announcements about new data center projects in regions where power and land are available.
