Overview

• People familiar with the matter say negotiations are advanced and a deal could be announced within days, though terms remain unfinalized and the companies have not commented.
• A roughly $40 billion valuation would make it one of the largest private data center acquisitions and among the biggest global deals this year.
• Abu Dhabi’s AI investment vehicle MGX, created by Mubadala and G42, is expected to participate as an independent investor, and Mubadala already holds a minority stake in Aligned.
• Aligned operates about 50 campuses with 78 data centers across the U.S. and South America, has more than 5 gigawatts in operation or development, and raised over $12 billion earlier this year.
• BlackRock has been expanding in digital infrastructure through GIP, which is also exploring a takeover of AES, following BlackRock’s 2024 GIP purchase and a joint AI data center fund launched with Microsoft.