The Artificial Intelligence Infrastructure Partnership, MGX, and BlackRock’s Global Infrastructure Partners have completed their acquisition of Aligned Data Centers. The transaction values Aligned at approximately $40 billion on an enterprise-value basis and represents one of the largest private investments completed in digital infrastructure.
The consortium acquired 100% of Aligned’s equity from private infrastructure funds managed by Macquarie Asset Management and its co-investors. Enterprise value generally reflects the value of a company’s equity and debt, adjusted for available cash.
The buyers have also committed an additional $5 billion in growth capital to support Aligned’s expansion. The funding will be used to increase the company’s AI-ready capacity as demand rises for data centers capable of supporting advanced computing workloads.
Aligned operates and develops a global portfolio spanning 51 campuses with more than 6.4 gigawatts of operational and planned capacity. Its U.S. footprint includes major digital infrastructure markets such as Northern Virginia, Chicago, Dallas, Ohio, Phoenix and Salt Lake City.
The company also operates or develops assets in São Paulo, Querétaro and Santiago. These locations are well-aligned with exposure to growing demand for digital infrastructure across North America and Latin America.
Aligned develops data centers designed to support high-density computing, including artificial intelligence and other power-intensive workloads. Its portfolio includes patented cooling technologies intended to reduce water consumption and improve energy efficiency.
Efficient cooling has become increasingly important as advanced processors generate more heat and require greater power density. Aligned holds more than 50 patents related to water- and energy-saving cooling technologies.
Andrew Schaap will continue serving as CEO of Aligned, and the existing management team will remain in place. The company will continue to be headquartered in Dallas and operate with a degree of independence under the consortium’s ownership.
The new investors plan to support Aligned’s expansion while preserving its focus on customers and local communities. The company expects to continue creating jobs, developing skilled workers, redeveloping legacy industrial sites and contributing to local tax bases.
Aligned also intends to invest in infrastructure that can support grid resilience. This may include designing facilities and energy systems that manage large electrical loads while coordinating more effectively with local utilities.
The acquisition is the first investment completed by the Artificial Intelligence Infrastructure Partnership. AIP was established to mobilize large amounts of long-term capital for the computing, energy and digital infrastructure required to support AI development.
AIP initially aims to raise and deploy $30 billion in equity capital. With debt financing, the partnership believes its investments could eventually support as much as $100 billion in total infrastructure development.
MGX brings experience investing across AI infrastructure, semiconductors, software, life sciences, automation and technology-enabled services. Global Infrastructure Partners adds experience owning and operating large infrastructure assets across digital infrastructure, energy, transportation, water and waste management.
GIP operates as part of BlackRock and manages more than $200 billion in assets. The consortium believes its combination of technology expertise, infrastructure operating experience and long-term capital will help Aligned scale its platform.
The acquisition gives the investors a major operating platform for deploying capital into advanced computing infrastructure. With the additional $5 billion commitment, Aligned plans to expand its footprint and develop data centers capable of meeting rising demand from AI, cloud computing and other high-density digital applications.
