The acquisition would extend BlackRock’s AI-linked portfolio just a year after acquiring GIP for $12.5 billion

In sum – what to know:

BlackRock eyes $40B acquisition – GIP is nearing a deal to buy Aligned Data Centers, which operates 78 facilities in the Americas, in one of the year’s largest infrastructure transactions.

AI demand drives M&A – The planned purchase highlights accelerating investor appetite for data center assets as AI workloads push global capacity and energy needs higher.

BlackRock’s Global Infrastructure Partners (GIP) is in advanced talks to acquire Aligned Data Centers, one of the largest potential transactions in the AI infrastructure sector this year, Bloomberg has reported. The deal, which could value Aligned at about $40 billion, would make it one of 2025’s five biggest global AI infrastructure transactions. The agreement could be finalized within days, though terms are still under discussion and may change, apparently.

MGX, an AI investment vehicle backed by Abu Dhabi’s sovereign wealth fund Mubadala Investment Company, is also involved in the negotiations and would participate independently in the transaction. Mubadala already holds a stake in Aligned, which operates more than 50 campuses and 78 data centers across the U.S. and South America. Aligned Data Centers has its headquarters in Texas and operates campuses in Chicago, Dallas, Salt Lake City, Phoenix, and Northern Virginia.

The company has further sites in development in Maryland, Ohio, Illinois, and Virginia.

The acquisition would extend BlackRock’s AI-linked portfolio just a year after acquiring GIP for $12.5 billion. GIP has reportedly explored additional acquisitions, including power producer AES, anticipating surging energy demand from data centers supporting AI workloads. BlackRock also has a $30 billion ‘AI Infrastructure Partnership’ (AIP), which was founded in September last year with participation from Microsoft and MGX. In June 2025, the Kuwait Investment Authority, joined the AIP.