AIP, MGX and BlackRock’s GIP buy Aligned at $40bn valuation

The Artificial Intelligence Infrastructure Partnership, MGX and BlackRock’s Global Infrastructure Partners have acquired Aligned Data Centers in a transaction valuing the Dallas-based data centre developer at $40 billion, PE Hub reported. The consortium also committed $5 billion of additional growth capital tied to the closing, funding that PE Hub said will support Aligned’s expansion and the scaling of AI-ready capacity.

Aligned develops data centres, a sector drawing capital from investors seeking exposure to the infrastructure required for artificial intelligence workloads. The reported valuation and follow-on capital commitment place the deal among the larger disclosed transactions in digital infrastructure, although PE Hub did not provide financial terms beyond the valuation and growth-capital figure.

Management to remain in place

PE Hub reported that Andrew Schaap, Aligned’s chief executive, will continue to lead the company alongside the existing management team. Continuity of management indicates that the buyers are backing the company’s current operating platform while adding capital for expansion.

The acquiring group combines the Artificial Intelligence Infrastructure Partnership, MGX and Global Infrastructure Partners, the infrastructure investment platform owned by BlackRock. PE Hub identified the buyer group as a consortium.

Growth capital tied to AI capacity

The $5 billion commitment is described by PE Hub as growth capital. In an infrastructure acquisition, such capital is typically directed toward building out assets and supporting expansion rather than only transferring ownership from sellers to buyers. In this case, PE Hub reported that the funds are intended for Aligned’s continued growth and the scale-up of capacity designed for artificial intelligence applications.

AI-ready data centres require substantial power, cooling and connectivity to handle intensive computing workloads. PE Hub did not provide details on the number of facilities involved, the geographic footprint of the expansion, the financing mix or the identity of any sellers.

The deal extends the flow of capital into digital infrastructure, where data centre developers have become central to the build-out of AI computing capacity. For investors and operators, the disclosed figures are the central points: a $40 billion valuation for Aligned and a further $5 billion earmarked for expansion after the acquisition closes.

This story draws on original reporting from PE Hub.