Group including Nvidia, BlackRock buying Aligned Data Centers in deal worth about $40 billion

Key Points

• A consortium including Nvidia, BlackRock, and Microsoft is acquiring Aligned Data Centers for approximately $40 billion to enhance cloud and AI infrastructure.
• The transaction is initiated by the Artificial Intelligence Infrastructure Partnership, which aims to mobilize $30 billion in equity capital with potential expansion up to $100 billion including debt.
• Aligned Data Centers holds over 5 gigawatts of operational capacity across 50 campuses, primarily in the U.S. and Latin America.
• The deal is anticipated to close in the first half of 2026, and Nvidia's shares rose more than 2% following the announcement.

A group including BlackRock, Nvidia and Microsoft is buying Aligned Data Centers in an approximately $40 billion deal in an effort to expand next-generation cloud and artificial intelligence infrastructure.

The acquisition comes amid a flurry of deals in recent months involving top AI developers that are flooding the booming AI sector with resources and money, and addressing resources -- such as electricity and infrastructure -- needed to support such technology.

Last week it was revealed that semiconductor maker AMD will supply its chips to artificial intelligence company OpenAI as part of an agreement to team up on building AI infrastructure. OpenAI will also get the option to buy as much as a 10% stake in AMD, according to a joint statement announcing the deal.

Last month, OpenAI and Nvidia announced a $100 billion partnership that will add at least 10 gigawatts of data center computing power.

Aligned’s portfolio includes 50 campuses and more than 5 gigawatts of operational and planned capacity, including assets under development, mostly located across the U.S. and in Latin America. Some locations include northern Virginia; Chicago; Dallas; Ohio; Phoenix; Salt Lake City; Sao Paulo, Brazil; Queretaro, Mexico; and Santiago, Chile.

Aligned, which is privately held, will continue to be led by CEO Andrew Schaap and keep its headquarters in Dallas.

One of the sellers, Macquarie Asset Management, initially invested in Aligned in 2018. Ben Way, head of Macquarie Asset Management, said in a statement, “The scaling of Aligned Data Centers from two locations to 50 in seven years is representative of our approach to working with great companies and teams to support their rapid growth and deliver positive impact.”

The transaction is the first deal for the investment consortium, which is named the Artificial Intelligence Infrastructure Partnership. The consortium has an initial target of mobilizing and deploying $30 billion of equity capital, with the potential of reaching $100 billion including debt.

“AIP is positioned to meet the growing demand for the infrastructure required as AI continues to reshape the global economy," BlackRock Chairman and CEO and AIP Chairman Larry Fink said in a statement. “This partnership is bringing together leading companies and mobilizing private capital to accelerate AI innovation and drive global economic growth and productivity.”

The deal is expected to close in the first half of 2026.

Shares of Nvidia rose about 1% in morning trading.