TLDR: BlackRock’s Global Infrastructure Partners (GIP) is reportedly in advanced discussions to acquire Aligned Data Centers for approximately $40 billion. This potential mega-deal is driven by the escalating demand for digital infrastructure, particularly data centers, fueled by the rapid expansion of artificial intelligence technologies. The transaction, if finalized, would rank among the largest global acquisitions this year.
Global asset management giant BlackRock, through its Global Infrastructure Partners (GIP) unit, is reportedly in advanced negotiations to acquire Aligned Data Centers in a deal valued at approximately $40 billion. This significant transaction underscores the surging investor interest in digital infrastructure, directly benefiting from the explosive growth in artificial intelligence (AI) development and the corresponding demand for robust data processing capabilities.
Aligned Data Centers, currently backed by Macquarie, is a prominent player in the data center market, operating 78 facilities across the U.S. and South America. The company boasts over 5 gigawatts of data center capacity either operational or under development, specializing in AI-related infrastructure. Its clientele includes hyperscale cloud providers and AI firms such as Lambda. The proposed acquisition, if completed, would be one of the largest-ever for a private data center company and could rank among the top five global M&A transactions in 2025, according to Bloomberg data.
Further complicating the deal, Abu Dhabi-based MGX, an AI investment vehicle established by sovereign wealth fund Mubadala and G42, is also expected to invest independently as part of the transaction. Mubadala Investment Co. already holds a minority stake in Aligned Data Centers.
BlackRock’s strategic move into the data center sector is not new. The firm acquired GIP in 2023 for approximately $12.5 billion, significantly expanding its infrastructure investment portfolio. GIP already owns CyrusOne, another Dallas-based data center company, which it took private with KKR & Co. in a $15 billion deal in 2021. This consistent investment highlights BlackRock’s broader ambition to capitalize on high-growth, stable-return sectors like data centers.
The escalating investments in digital infrastructure reflect a widespread belief that data centers are becoming critical real estate assets due to rising power needs. McKinsey estimates that investments in AI-related infrastructure could reach an astounding $6.7 trillion by 2030. Other major players are also making substantial infrastructure commitments; Meta Platforms recently raised $29 billion for a data center in Louisiana, and Oracle issued $18 billion in bonds to expand its AI infrastructure.
However, some market observers express caution regarding the rapid pace of these investments. Bryan Yeo, group CIO of GIC Pte, remarked at the Milken Institute Asia Summit in Singapore, “If the technology doesn’t catch up and doesn’t deliver as per the high expectations that the market’s pricing in, then we’re in for a bubble.” This sentiment highlights concerns that soaring valuations might be outpacing the near-term revenue potential of AI services, which are still in early commercialization stages.
Also Read:
- Centersquare Expands Data Center Portfolio with $1 Billion Acquisition to Power AI Workloads
- Applied Digital Accelerates AI Infrastructure Development with Major Capital and Gigawatt-Scale Expansion
BlackRock’s shares have seen a gain of about 13% year-to-date, bringing its market capitalization to approximately $189 billion. Representatives for BlackRock and GIP declined to comment on the ongoing discussions, while Aligned, Macquarie, and Mubadala did not immediately respond to requests for comment.
