Macquarie Group has secured the largest data centre transaction in global history, selling Aligned Data Centers to a star-studded consortium for approximately USD 40 billion (AUD 61.4 billion).
The deal sees BlackRock’s Global Infrastructure Partners team up with tech titans Nvidia, Microsoft, and Elon Musk’s xAI to acquire the Texas-based operator. It marks a watershed moment for both Macquarie and the rapidly accelerating AI infrastructure race.
The Players Behind the Macquarie Data Center Deal
The transaction was led by the AI Infrastructure Partnership (AIP), a consortium formed in September 2024 specifically to mobilise capital for AI-ready infrastructure. The partnership aims to deploy USD 30 billion in equity capital, with potential to reach USD 100 billion including debt financing.
Macquarie Group headquarters in Sydney, Australia
Key participants include:
- BlackRock – World’s largest asset manager coordinating the acquisition
- Nvidia – Semiconductor giant providing technical expertise on AI computing infrastructure
- Microsoft – Cloud computing powerhouse with massive data centre needs
- xAI – Elon Musk’s artificial intelligence venture
- MGX – Abu Dhabi’s sovereign AI investment fund
The consortium also counts support from the Kuwait Investment Authority, Singapore’s Temasek, and energy partners GE Vernova and NextEra Energy.
What Makes Aligned Data Centers Worth AUD 61 Billion?
Under Macquarie Asset Management’s seven-year ownership, Aligned transformed from a modest operation with 85 MW capacity across two facilities in Dallas and Phoenix into a hyperscale platform spanning more than 5 GW of operational and planned capacity.
The company now operates 50 campus locations across the United States, Mexico, Brazil, Chile, and Colombia. This expansion positions Aligned as a leading provider of adaptive, sustainable data centre solutions supporting hyperscale and enterprise customers throughout the Americas.
Aligned’s facilities house the hardware and equipment needed to run large AI workloads and train machine learning models – the physical backbone of the artificial intelligence revolution sweeping through tech.
Macquarie’s Track Record in Digital Infrastructure
This isn’t Macquarie’s first blockbuster data centre exit.
In 2024, Macquarie Asset Management sold AirTrunk to a consortium of investors for AUD 24 billion (USD 16 billion), marking another record-breaking transaction in the sector.
For more than two decades, Macquarie Asset Management has invested globally in digital infrastructure, including data centre platform operators AirTrunk, Aligned, Applied Digital, Bohao Internet Data Services, Hanam Data Centre, Netrality Data Centers, and VIRTUS, as well as fibre networks and cell towers.
The firm’s digital infrastructure portfolio reflects early recognition of the AI megatrend now reshaping global technology investment.
Market Reaction: Macquarie Shares Jump
Macquarie Group shares lifted 4.8% to AUD 228.32 in morning trade on 16 October 2025 following the announcement, ahead of the wider financial sector which was up 2.2%.
Macquarie Group shares
The positive market response underscores investor confidence in Macquarie Asset Management’s ability to identify and develop high-value infrastructure assets.
The AI Infrastructure Gold Rush
The Macquarie data center deal arrives amid unprecedented demand for computing capacity.
AI companies have been racing to build out infrastructure they believe necessary to meet growing demand for artificial intelligence technology. The global market requires an estimated 20 gigawatts of new data centre capacity annually, with half coming from the United States.
Recent massive infrastructure projects include:
- OpenAI’s Stargate Project – USD 500 billion AI infrastructure plan
- Microsoft-Constellation Energy partnership – USD 1.6 billion to reopen Three Mile Island nuclear facility
- Nvidia partnerships with major cloud providers for next-generation computing clusters
These deals reflect a broader shift in how digital infrastructure is financed. Pension funds and sovereign wealth investors now underwrite assets supporting the world’s most advanced computing systems, providing long-term returns through leasing and service contracts rather than direct ownership.
Australia’s mining sector for critical minerals needed to support data centre expansion and the broader energy transition.
What Happens Next?
The transaction is expected to close in the first half of 2026, subject to regulatory approvals and customary closing conditions. Aligned will remain headquartered in Dallas, Texas, and will continue to be led by CEO Andrew Schaap.
The consortium plans to accelerate construction across existing and new campuses, tapping deep pools of capital and semiconductor access to build facilities faster than traditional operators.
Adebayo Ogunlesi, co-founder of Global Infrastructure Partners, highlighted that the collaboration was designed to address challenges such as energy use, water management, and data centre design efficiency.
Broader Implications for Australian Investors
Macquarie’s success in digital infrastructure aligns with Australia’s growing importance in critical minerals supply chains that support global technology development.
The deal demonstrates how Australian financial institutions can compete at the highest levels of global infrastructure investment, particularly in sectors experiencing transformational growth.
For ASX-listed companies and investors, the transaction highlights the strategic value of early-stage positioning in sectors where technological convergence creates outsized opportunities.
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The Bottom Line
The AUD 61 billion Aligned Data Centers sale represents more than a financial transaction.
It’s a clear signal that artificial intelligence infrastructure has become a distinct, highly valuable asset class attracting the world’s largest institutional investors and most powerful technology companies.
Macquarie Asset Management’s ability to grow Aligned from 85 MW to over 5 GW under its ownership, then exit at a record valuation, showcases sophisticated infrastructure development and timing.
As AI continues its explosive growth trajectory, expect further mega-deals in the data centre space. The physical infrastructure supporting artificial intelligence is no longer a background concern – it’s become a critical battleground for global tech dominance.
