Global Infrastructure Partners (GIP) is closing in on a landmark deal to acquire Aligned Data Centers in a transaction valued at nearly $40 billion, including debt, according to people familiar with the matter. The move underscores how the artificial intelligence boom is reshaping the global investment landscape, with infrastructure players racing to secure assets that can power the next generation of digital transformation.
Data Centers: The Backbone of the AI Economy
As demand for artificial intelligence accelerates, data centers have emerged as one of the most critical assets in the technology supply chain. AI training models, generative AI platforms, and large-scale cloud computing require massive computing power—far more than traditional enterprise applications.
Aligned Data Centers, based in the U.S., is among the fastest-growing hyperscale data center operators, providing energy-efficient and scalable solutions for major cloud service providers and enterprise clients. By acquiring the company, GIP is making one of the largest-ever private infrastructure bets on AI-related assets.
Why This Deal Matters
The deal, if finalized, will instantly position GIP as a central player in the global digital infrastructure race. A $40 billion valuation would not only rank among the largest data center transactions to date but also signal a new era where infrastructure giants are no longer focusing solely on roads, energy, and transport—but also digital powerhouses that fuel the internet and AI systems.
“Data centers are the new oil refineries of the digital economy,” one analyst noted. “With AI workloads growing exponentially, whoever controls the infrastructure controls the future.”
A Broader Trend in M&A
The acquisition reflects a surge of M&A activity in the data center sector, with private equity and infrastructure funds aggressively competing for assets. In recent years, Blackstone, KKR, and Brookfield have all made multibillion-dollar acquisitions of data center platforms.
For GIP, this deal aligns with its broader strategy of targeting long-term infrastructure assets that offer stable cash flows and exposure to secular growth markets. With data demand projected to multiply in the next decade—driven by AI, 5G, and the Internet of Things—this acquisition could become a cornerstone of GIP’s portfolio.
Financial Structure and Investors
While precise deal terms have not been publicly disclosed, industry insiders suggest that GIP is structuring the acquisition with a mix of equity and long-term debt financing. Pension funds and sovereign wealth investors are also expected to co-invest, highlighting the attractiveness of data centers as low-risk, high-yield infrastructure assets in the AI era.
The AI Factor
The meteoric rise of generative AI, exemplified by platforms like ChatGPT, has driven unprecedented demand for compute capacity. Training large language models and running inference at scale require vast server farms, specialized chips, and energy-intensive cooling systems.
Aligned’s facilities are known for their sustainability focus, with advanced cooling and modular build-outs that allow for rapid scalability—attributes highly prized in an AI-driven world. By securing these assets, GIP is effectively placing a massive bet on the future of AI adoption across industries.
Risks and Challenges
While the deal reflects optimism, challenges remain. Data centers face rising scrutiny over energy consumption, particularly as AI workloads significantly increase power usage. Local communities and regulators are raising concerns about environmental impact, while supply chain bottlenecks in chips and equipment could delay expansion.
Moreover, the sheer scale of the $40 billion price tag raises questions about whether valuations in the data center sector are overheating.
Outlook
If completed, GIP’s acquisition of Aligned Data Centers would represent a watershed moment in AI-related infrastructure investing. It highlights how data centers—once viewed as niche real estate—are now at the center of trillion-dollar transformations in technology, finance, and global productivity.
For GIP, the bet is clear: as AI adoption accelerates worldwide, the demand for reliable, scalable, and sustainable digital infrastructure will only grow. This deal puts the firm in a commanding position to capitalize on one of the most significant technological shifts of the 21st century.
