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Fortune

Sharon Goldman

A BlackRock-led $40 billion data center deal highlights the unstoppable AI gold rush

BlackRock United States Aligned Larry Fink Nvidia OpenAI Microsoft Texas

(Credit: Brian Kaiser—Bloomberg/Getty Images)

Today’s announcement that a group of investors led by BlackRock has agreed to buy Aligned Data Centers in a $40 billion deal underscores the seemingly unstoppable flow of money into AI data centers—and comes as its CEO, Larry Fink, pushes back on AI bubble fears.

The deal to buy Aligned, which is owned by Macquarie Asset Management, is being inked by the AI Infrastructure Partnership (AIP)—a coalition formed in September 2024 by BlackRock, its infrastructure arm, Global Infrastructure Partners, as well as Microsoft, Nvidia, and MGX, an AI investment firm backed by Abu Dhabi sovereign wealth fund Mubadala. The Kuwait Investment Authority, xAI, and Temasek joined as additional participants.

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