A consortium comprising BlackRock’s Global Infrastructure Partners (GIP), the AI Infrastructure Partnership (AIP), and Abu Dhabi-based technology investment firm MGX has agreed to acquire Aligned Data Centers in a transaction valued at approximately $40 billion. The deal marks the AI Infrastructure Partnership’s first investment since its formation and signals an aggressive push to expand digital infrastructure supporting artificial intelligence workloads. Alongside the acquisition, the investor group has committed an additional $5 billion to accelerate Aligned’s future expansion plans. The investment reflects growing competition among infrastructure investors seeking ownership of hyperscale-ready data center platforms as AI deployment continues to reshape global computing demand.
The acquisition marks a defining milestone for the AI Infrastructure Partnership, which launched with the objective of mobilizing an initial $30 billion to finance AI infrastructure, digital platforms, and supporting technologies. The partnership aims to attract large-scale institutional capital into infrastructure assets that support long-term AI growth. This acquisition becomes the consortium’s first completed transaction under that strategy while reinforcing its ambition to support up to $100 billion in total investments over time. The transaction also demonstrates how private capital continues moving rapidly toward infrastructure assets that industry leaders consider essential for next-generation computing.
Aligned Data Centers Retains Leadership and Operational Independence
Despite the ownership change, Aligned Data Centers will continue operating from its Dallas headquarters under the leadership of Chief Executive Officer Andrew Schaap and the existing executive management team. According to the announcement, the new ownership structure preserves the company’s operational independence while giving Aligned access to significantly larger financial resources for expansion. The investors said they will combine long-term capital with infrastructure expertise instead of changing the company’s operating model. Additionally, they emphasized maintaining Aligned’s customer relationships and community-focused approach as the company expands its capacity.
Schaap welcomed the investment and described it as a transformational moment for the business. “This milestone reflects the skill of our remarkable team and the strength of the platform we’ve built — and it stands among the largest private investments the digital infrastructure sector has ever seen … at a time when demand for what we do has never been higher,” Schaap said. In a separate LinkedIn post, Schaap also noted that the acquisition and fresh capital commitment would allow Aligned to “to move quicker and build bigger than ever before.”
Expansion Capital Targets Next Wave of AI Infrastructure
The additional $5 billion capital commitment is expected to support continued development of hyperscale campuses and AI-ready infrastructure across Aligned’s operating footprint. The company’s portfolio currently spans 51 data center locations, primarily throughout the United States, while also maintaining facilities in Mexico and South America. Investors said the partnership extends beyond financial backing by bringing strategic expertise in AI technologies alongside decades of experience developing and operating complex infrastructure at global scale. That combination is expected to strengthen Aligned’s ability to deliver large-capacity deployments for cloud providers and AI customers.
The consortium also described its investment model as one built around long-term ownership rather than short-term financial returns. According to the announcement, investors will provide “a supportive partnership model and the long-term capital required for Aligned to scale its platform while maintaining its customer and community focus and operational independence.” BlackRock Chairman and Chief Executive Officer Larry Fink, who also serves as chairman of the AI Infrastructure Partnership, said the acquisition aligns directly with the organization’s broader investment strategy around AI infrastructure. He said the investment in Aligned Data Centers will “further [the group’s] goal of delivering the infrastructure necessary to power the future of AI, while offering our clients attractive opportunities to participate in its growth.”
Infrastructure Investment Rises as Power Demand Accelerates
The transaction arrives during a period of mounting concern over the energy and resource requirements associated with AI infrastructure expansion. Recent analysis from the Kansas Health Institute projects that electricity consumption by U.S. data centers could more than double by 2030, while water demand from facilities may double or even quadruple by 2028. Those projections reinforce broader industry expectations that AI infrastructure will become one of the fastest-growing sources of electricity demand across the country. Investors are increasingly weighing both growth opportunities and long-term resource availability when evaluating digital infrastructure assets.
Earlier this year, the National Electrical Manufacturers Association estimated that U.S. data center electricity consumption could increase by 300% over the next decade. The organization also projected that data centers could account for roughly 38% of the nation’s net electricity consumption through 2037. Those forecasts continue to influence investment strategies across utilities, power developers, equipment manufacturers, and digital infrastructure operators preparing for sustained AI-driven capacity growth.
Regulatory Scrutiny Grows Alongside Hyperscale Expansion
The acquisition comes as policymakers increase scrutiny of the environmental footprint created by hyperscale data center development. New York recently became the first U.S. state to impose a one-year moratorium on new hyperscale data center projects requiring 50 megawatts or more of electricity. Governor Kathy Hochul paused project approvals while state regulators develop a framework to address environmental impacts, electricity demand, and community concerns surrounding large-scale facilities. The decision underscores how governments are placing greater regulatory oversight on digital infrastructure as AI investments continue accelerating across global markets.
