In the high-stakes world of infrastructure investing, BlackRock Inc.’s Global Infrastructure Partners is positioning itself for a monumental acquisition that underscores the explosive growth in artificial intelligence-driven demand. According to reports, GIP is in advanced discussions to purchase Aligned Data Centers, a Macquarie-backed operator, in a deal potentially valuing the company at around $40 billion. This move, if finalized, would rank among the largest mergers and acquisitions of 2025, highlighting how asset managers are racing to capitalize on the data center boom fueled by AI technologies.

Details emerging from sources familiar with the matter indicate that the transaction could involve additional investors, including MGX, an AI-focused investment firm tied to Abu Dhabi’s Mubadala Investment Co. Aligned, headquartered in Plano, Texas, operates a network of data centers across the U.S. and South America, with plans for expansion that align perfectly with the surging needs of cloud computing giants and AI developers.

Strategic Bet on Digital Infrastructure

BlackRock’s acquisition of GIP itself in 2023 for approximately $12.5 billion was a clear signal of its intent to dominate alternative assets, particularly in infrastructure. Now, with this potential deal, GIP is doubling down on data centers, a sector where it already holds significant stakes, such as its ownership of CyrusOne, acquired in a $15 billion transaction alongside KKR & Co. in 2021. As Bloomberg reported, the talks reflect a broader investor frenzy, with AI spending propelling data center valuations skyward.

Industry insiders note that Aligned’s appeal lies in its scalable, energy-efficient facilities designed for high-density computing, essential for training large language models and supporting generative AI applications. The company’s portfolio includes 50 campuses and 78 data centers either operational or in development, positioning it as a key player in meeting the infrastructure demands of tech behemoths like Microsoft and Google.

Market Dynamics and Competitive Pressures

The timing of this deal comes amid a flurry of activity in the sector, where power constraints and regulatory hurdles are increasingly challenging operators. Reuters sources confirmed that GIP’s pursuit of Aligned follows its recent regulatory win for a $6 billion acquisition of utility Allete Inc., as detailed in a Reuters article, which could provide synergies in energy supply for data-hungry facilities.

Moreover, the involvement of sovereign wealth-backed entities like MGX adds a layer of geopolitical intrigue, as Middle Eastern funds pivot toward tech infrastructure to diversify beyond oil. This acquisition talk has already boosted BlackRock’s stock, up about 13% year-to-date, giving the firm a market capitalization nearing $189 billion.

Implications for AI Growth and Challenges Ahead

For industry observers, this potential $40 billion transaction, as outlined in a briefing from The Information, exemplifies how traditional asset managers are transforming into tech enablers. Data centers are projected to consume vast amounts of electricity—potentially up to 8% of U.S. power by 2030—raising sustainability concerns that Aligned addresses through its modular designs and renewable energy integrations.

However, challenges loom, including antitrust scrutiny and the need for massive capital infusions to build out capacity. GIP’s strategy mirrors broader trends, with peers like Digital Realty and Equinix also expanding aggressively.

Broader Investment Trends and Future Outlook

BlackRock’s push into this arena isn’t isolated; it’s part of a wave where infrastructure funds are funneling billions into AI-supporting assets. PitchBook analysis, as seen in their report, suggests GIP is deepening its bet on the data center surge, potentially setting the stage for more consolidations.

As negotiations progress, the deal could reshape how investors view digital infrastructure as a stable, high-return asset class amid economic uncertainties. With AI’s relentless advance, acquisitions like this may become the norm, driving innovation while testing the limits of global energy and regulatory frameworks. If completed, it would not only solidify BlackRock’s infrastructure prowess but also signal the maturation of AI as a cornerstone of modern investment strategies.