An investor consortium led by BlackRock, Microsoft, and Nvidia has agreed to acquire U.S.-based Aligned Data Centers in a $40 billion deal, marking one of the largest takeovers yet in the race to secure computing capacity for artificial intelligence.

The transaction, announced Wednesday, underscores how control over data center infrastructure has become a defining battleground in the global AI boom.

The purchase from Australian investment giant Macquarie Asset Management — which has owned a majority stake in Aligned since 2018 — marks the first major deal for the AI Infrastructure Partnership, a global investment vehicle formed last year by BlackRock alongside Abu Dhabi’s sovereign fund MGX, Elon Musk’s xAI, and other heavyweight backers.

“With this investment in Aligned Data Centers, we further our goal of delivering the infrastructure necessary to power the future of AI,” said Larry Fink, BlackRock’s chairman and CEO, who also leads the AI Infrastructure Partnership.

The consortium’s move positions it at the heart of one of the fastest-growing and most capital-intensive arms of the tech industry — the buildout of data centers capable of powering the next generation of artificial intelligence models.

A New Gold Rush for AI Infrastructure

The acquisition comes amid an unprecedented spending spree by Big Tech and Silicon Valley startups, each vying to lock in chips, servers, and power supply for AI workloads.

According to Morgan Stanley, companies including Alphabet, Amazon, Meta, Microsoft, and CoreWeave are projected to spend a record $400 billion in 2025 alone on AI infrastructure — a figure that dwarfs most national capital budgets.

At the center of that frenzy is OpenAI, the San Francisco startup whose ChatGPT model ignited the AI revolution. In recent weeks, OpenAI has reportedly struck long-term supply deals worth over $1 trillion with chipmakers Nvidia, AMD, and Broadcom to secure about 26 gigawatts of computing capacity, enough to power roughly 20 million U.S. homes.

The Aligned deal shows that this infrastructure push now extends far beyond chips — into real estate, energy, and physical computing hubs where AI workloads are processed and stored.

Aligned’s Massive Footprint

Founded in 2013, Aligned Data Centers has grown rapidly into one of the world’s largest and most efficient operators, boasting nearly 80 facilities and over 5 gigawatts of operational and planned capacity across 50 campuses in the U.S. and Latin America.

Its data centers are known for energy efficiency and modular scalability — two features increasingly prized by AI firms facing soaring electricity costs and space constraints. The company counts cloud platform Nutanix and IT services provider Datto among its customers and owns a land portfolio with significant near-term power access, according to Macquarie.

Aligned is noted as one of the biggest winners of the AI infrastructure boom, having raised $12 billion in equity and debt earlier this year in one of the largest private financing rounds ever for a data center company.

Under the new agreement, Aligned will remain headquartered in Dallas, Texas, led by CEO Andrew Schaap, when the deal closes in the first half of 2026, the investor group said.

Who’s Backing the Deal?

The consortium’s backers read like a who’s who of global capital and technology. Alongside BlackRock, Microsoft, and Nvidia are sovereign wealth funds, the Kuwait Investment Authority and Temasek of Singapore. Together, the group has committed an initial $30 billion in equity, with the potential to scale up to $100 billion, including debt financing.

While the investors did not disclose individual contributions or the equity split for the Aligned acquisition, the sheer scale of their commitment underlines the strategic urgency behind AI infrastructure investment.

Nvidia and Aligned declined to comment, while BlackRock and other investors did not immediately respond to requests for further details.

“All the major parties in that consortium are showing the strength of the AI ecosystem,” said Hendi Susanto, portfolio manager at Gabelli Funds, which holds Nvidia shares.

Rising Value of Data Centers

The deal also reflects how data centers, once viewed as low-margin utilities, have become prized investment assets. Their value has soared amid the surge in demand for AI model training and inference, which require vast computing power and stable, high-energy environments.

Shares of Applied Digital, a publicly traded U.S. data center firm, have jumped more than fourfold this year, and rose another 5% on Wednesday after news of the Aligned takeover. Portfolio manager Joe Tigay of Equity Armor Investments, an Nvidia shareholder, said investors now see these facilities as critical infrastructure assets, not just real estate.

“They’re looking at rapid expansion to meet AI demand and optimize for it,” Tigay said.

For BlackRock — the world’s largest asset manager — the deal represents another step in reshaping its portfolio toward long-term technological and infrastructure bets. For Microsoft and Nvidia, both central players in AI software and chips, the acquisition secures valuable control over the physical layer of AI computing — a hedge against bottlenecks in power supply and data capacity.

AI Infrastructure Race Accelerates

This investment follows a series of similar megadeals as companies scramble to build the next generation of cloud and AI ecosystems.

Meta Platforms is constructing massive AI data centers, including Prometheus, expected to come online in 2026, and Hyperion, which can scale up to 5 gigawatts — rivaling the output of a small nuclear power plant.

Amazon Web Services has announced plans to invest $15 billion to expand its data center footprint in Japan and Southeast Asia, while Google continues to develop its carbon-neutral data centers across the United States and Europe.

The AI Infrastructure Partnership’s purchase of Aligned positions the group as a global force capable of competing with these tech giants not just in capital, but in physical control over the grid that powers AI.

Analysts say the move could have sweeping implications for the balance of power across the technology landscape. By consolidating data center ownership, Big Tech and major investors can better manage capacity for AI training, ensure security of supply chains, and potentially dictate pricing structures for smaller players seeking access to computing power.

The deal also hints at deepening vertical integration — where companies like Microsoft and Nvidia, once focused on software or hardware, now invest in the entire stack, from semiconductors to energy infrastructure.

Stellantis’ new $13 billion investment plan in the United States signals a major shift in the global auto industry’s response to President Donald Trump’s sweeping tariffs — a recalibration that analysts say could permanently reshape how and where automakers build their cars.

The plan, announced late Tuesday, marks one of the most aggressive moves yet by the French-Italian-American carmaker to fortify its position in its most important market and shield itself from the escalating costs of tariffs imposed under Trump’s “America First” trade agenda. The company had estimated in July that the tariff burden alone would cost it around $1.7 billion this year — a hit that now appears to have pushed Stellantis toward decisive action.

“This move is relevant and part of a wider path started by Stellantis to be more and more aligned to the new business environment drawn by Trump with tariffs. It’s paying off,” Fabio Caldato, portfolio manager at AcomeA SGR, who recently increased his exposure to Stellantis, told Reuters.

However, the $13 billion investment underscores both the risks and opportunities facing global automakers as Washington’s trade strategy forces a reordering of supply chains. Analysts say it represents a turning point not only for Stellantis but for the broader auto industry, as companies reconsider the long-term viability of their North American production strategies.

‘Manufacture Where You Sell’ Becomes the New Rule

Stellantis, which owns brands including Jeep, Ram, Chrysler, Fiat, and Peugeot, sold about 1.2 million vehicles in the U.S. last year. More than 40 percent of those were imports — primarily from plants in Mexico and Canada — that are now subject to 25 percent tariffs under Trump’s trade framework.

The new investment plan is expected to increase local U.S. production, reducing reliance on imports and aligning Stellantis more closely with Washington’s industrial priorities.

“I see it as an irreversible trend, to manufacture more where sales happen, a sort of forced de-globalisation process,” said Massimo Baggiani, founder of London-based Niche Asset Management. “More investments and sales in the U.S. might also attract more American investors in the long term.”

Baggiani, who previously sold his Stellantis shares, said he was not reinvesting in the stock yet, noting that while Stellantis shares remain attractively priced, “they do not offer a significant discount compared to Ford or GM.”

That cautious stance reflects a broader investor mood. Stellantis shares rose as much as 4.3 percent in early trading on Wednesday following the announcement, but they remain down 33.5 percent year-to-date. Analysts attribute part of that decline to persistent uncertainty over trade policies, production costs, and consumer sentiment in the face of higher car prices.

Tariffs Push Automakers to Reinvent Supply Chains

Trump’s tariff wave — targeting goods from Mexico, Canada, and China — has already triggered a strategic rethink across industries. Automakers, long accustomed to integrated North American supply chains, are now being forced to localize production more aggressively.

For Stellantis, the decision is as much about survival as opportunity. The company has seen its U.S. market share weaken in recent years, particularly in its sedan and compact segments, while brands like Jeep and Ram face intensified competition from Ford and General Motors in the truck and SUV categories.

“The investment plan was necessary to mitigate the impact of U.S. tariffs and relaunch brands that have lost significant volume in recent years,” said Equita analyst Martino De Ambroggi, who added that the spending reshuffle “should result in limited changes to total capital expenditure.”

Some believe that Stellantis’ investment strategy could include expanding or repurposing existing plants in states such as Michigan, Ohio, and Indiana — regions where auto production and employment carry deep political significance. Such moves would not only curb tariff costs but also signal alignment with Trump’s emphasis on domestic manufacturing.

A Sign of ‘Greater Tariff Comfort’

The timing of Stellantis’ announcement has also drawn attention. After months of industry-wide uncertainty, the move is seen as a sign that the company now has a clearer understanding of Washington’s trade trajectory.

“The timing of this announcement possibly signals greater tariff comfort and clarity on the part of Stellantis management,” analysts at TD Cowen — Itay Michaeli, Justin Barrell, and Selina Liu — wrote in a note to clients.

By locking in a U.S. investment of this magnitude, Stellantis appears to be hedging against further escalation while simultaneously positioning itself as a long-term domestic manufacturer. That shift could earn it goodwill from both policymakers and consumers, particularly as other global automakers scramble to adjust to the new tariff regime.

A Broader Shift Toward Industrial Reshoring

Stellantis’ move fits into a larger wave of reshoring announcements by multinationals seeking to minimize exposure to tariff risk and geopolitical disruption. From electronics to electric vehicle batteries, companies have been relocating supply chains closer to major consumer markets — a process some economists describe as the “re-nationalization” of global manufacturing.

Trump’s policy framework, which includes incentives for companies to expand domestic operations alongside punitive tariffs on imports, has accelerated this transformation. Analysts note that while it increases near-term costs for automakers, it could also bolster domestic production and employment in the long term — a political win for the White House.

For investors, Stellantis’ U.S. investment plan represents both a reassurance and a calculated gamble. On one hand, it signals the company’s willingness to adapt quickly to policy changes; on the other, it raises questions about profit margins, capital allocation, and execution risks in a high-cost environment.

“Stellantis shares remain cheap, but like the rest of the industry, they do not offer a significant discount compared to Ford or GM,” said Baggiani.

Caldato, the AcomeA SGR portfolio manager, sees the investment as a vote of confidence in the company’s ability to navigate a new trade reality.

“It’s paying off,” he said, suggesting that Stellantis’ proactive stance could help it win market share from slower-moving rivals.

Still, analysts caution that even with new plants, supply chain volatility, inflationary pressures, and continued tariff uncertainty could weigh on margins.