BlackRock, MGX Dumping $5B Into Aligned Data Centers

A joint venture that includes BlackRock’s Global Infrastructure Partners and Abu Dhabi-based MGX is planning to invest $5 billion into its recently acquired Plano-based firm Aligned Data Centers.

The group also recently closed its acquisition of Aligned from Macquarie Asset Management for $40 billion. The capital injection is primarily to help Aligned expand capacity, according to Bloomberg.

Aligned, who owns and operates data centers across the Americas, including in Dallas, Atlanta, Chile, Brazil and Mexico, has more than 6.4 GW in operational and planned output capacity, according to the outlet. Acquiring Aligned was one of BlackRock’s largest infrastructure investments, and was called one of the five biggest transactions of 2025 when the news broke last October.

As of October, Aligned boasted 50 campuses and 78 data centers either under construction or already operational. Aligned’s headquarters is at 2800 Summit Avenue in Plano.

The power requirements that generative AI and other artificial intelligence ventures require are rapidly increasing the valuations of existing data center properties. Powerful global tech companies, sovereign wealth funds and investment firms are all racing to construct more infrastructure or acquire existing property to get in on the new gold rush.

The rapid, mostly unchecked building has come with a cost: equally rapidly eroding local support. Some communities worry as data center developments pop up, electric bills will rise. Others are concerned about environmental aspects like wastewater usage.

A unique concern in Texas is with its main power grid regulator, the Electric Reliability Council of Texas, or ERCOT, whose failure half a decade ago during a winter freeze still sticks in the minds of municipalities who are nervous about its capacity overloading and shutting down again. Gov. Greg Abbott is acutely aware of these concerns, and has called for a ban on data center developments in rural areas and recommended blanket regulations statewide.

— Hunter Cooke