A High-Stakes Acquisition in the AI Infrastructure Boom

Reports indicate that BlackRock’s infrastructure division, Global Infrastructure Partners, is close to finalizing the purchase of Aligned Data Centers, with the deal valued at approximately $40 billion. Aligned specializes in hyperscale facilities designed for high-performance computing and artificial intelligence, making it a highly strategic asset in today’s technology landscape.

The Texas-based company has grown rapidly, having raised more than $12 billion earlier in 2025 to fund expansion projects across North America. Its ability to deliver power-intensive and scalable data center capacity has positioned it as a sought-after platform at a time when enterprises and governments are racing to build the backbone for AI adoption.

Strategic and Financial Stakes

For BlackRock and its GIP unit, acquiring Aligned would represent one of the largest infrastructure transactions of the year, and a clear vote of confidence in AI’s long-term growth trajectory. Control of state-of-the-art facilities capable of supporting generative AI, large language models, and cloud scaling provides a direct gateway into the heart of the digital economy.

Aligned’s existing investors, including Macquarie, are expected to participate in the deal, while Mubadala’s MGX is also reportedly contributing capital. The latter reflects Abu Dhabi’s broader ambition to secure a global role in the rapidly evolving AI ecosystem.

The acquisition, however, brings challenges. Operating hyperscale data centers demands substantial investments in energy supply, advanced cooling, and real estate management. As demand accelerates, issues such as sustainability commitments, regulatory approvals, and power sourcing strategies will be closely scrutinized.

What to Monitor Next

Market participants are awaiting a formal announcement, which could clarify the final valuation, financing structure, and governance terms. How the new ownership group addresses issues such as energy efficiency and carbon footprint will be critical, given growing scrutiny of data center sustainability worldwide.

If completed, the transaction would mark a milestone in the convergence of infrastructure investment and artificial intelligence. For BlackRock, it could reinforce its position as a leader in alternative assets, while for Aligned, it would secure the capital and scale required to compete globally. Should negotiations falter, however, the episode would highlight both the intense competition for AI-related assets and the complexities of building the next generation of digital infrastructure.