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SAVRN Research · Capital Atlas · Private equity and infrastructure

BlackRock / GIP / AI Infrastructure Partnership Data Center Capex and Sites

BlackRock closed its acquisition of Global Infrastructure Partners on October 1, 2024, creating an approximately $170 billion combined infrastructure platform. The AI Infrastructure Partnership (Microsoft, BlackRock, GIP, MGX, later NVIDIA and xAI) seeks $30 billion of equity scaling to up to $100 billion with debt. AIP, MGX and GIP acquired Aligned Data Centers at a $40 billion enterprise value, funded 100 percent with equity (about a $21 billion equity cheque), the largest North American data center transaction of the period, closing July 21, 2026.

Updated October 8, 2026 0 named sites 19 financing transactions 4 sourced facts 42 sources
BlackRock / GIP / AI Infrastructure Partnership
Private equity and infrastructure
Financing regimeconsortium equity (AIP / MGX / GIP) scaled with debt financing
Named sites
0
Site-level commitments the atlas ties to BlackRock / GIP / AI Infrastructure Partnership
Disclosed site capital
n.a.
Sum of named sites with a stated dollar figure. Not a capex total; see the spending table
Disclosed capacity
n.a.
Sum of named sites with a stated megawatt figure
Financing transactions
19
Transactions naming BlackRock / GIP / AI Infrastructure Partnership or tied to one of its sites
Spending

Reported and guided spending

Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent; guidance is what management said it expects. They are shown side by side and never combined.

PeriodKindAmountAs statedSources
Oct 2024 (GIP close) aum ≥$170B
combined infrastructure platform with approximately $170 billion of client AUM; added over $100 billion to BlackRock's private-markets AUM and roughly $750 million of run-rate management fees
2025-2026 raise $30.0B
AIP seeks $30 billion of equity capital, scaling to up to $100 billion including debt financing
Named sites

Where BlackRock / GIP / AI Infrastructure Partnership builds

BlackRock / GIP / AI Infrastructure Partnership has no named site commitment on record in the atlas as of October 8, 2026. That is normal for a private equity and infrastructure position: the capital shows up in the transactions below rather than on a site of its own.
Financing

Financing transactions

Transactions that name BlackRock / GIP / AI Infrastructure Partnership as a party or attach to one of its named sites. Amounts are as stated; overlapping commitments are never summed.

PartiesInstrumentAmountDateSiteSources
Nvidia + Apollo + BlackRock + Blackstone + Brookfield + Goldman Sachs + KKR
On August 10, 2026 Nvidia announced strategic partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to establish AI compute infrastructure financing platforms intended to mobilize over $500 billion of third-party capital over time.
 platform ≥$500B August 10, 2026 n.a.
AIP + MGX + BlackRock GIP + Macquarie Asset Management (seller) + Macquarie Asset Management + Aligned Data Centers
The largest North American data center transaction of the period, covering a platform of 6.4GW across 51 locations. Macquarie Asset Management led the sale as exiting sponsor.
 acquisition ≥$40.0B announced October 16, 2025; closed July 21, 2026 n.a.
MGX + BlackRock + Kuwait Investment Authority + Temasek + Nvidia + xAI + Microsoft + AI Infrastructure Partnership + GIP
MGX is a founding partner of the AI Infrastructure Partnership (AIP), seeking $30 billion of equity scaling to up to $100 billion including debt financing. Kuwait Investment Authority joined in June 2025 and Temasek made an anchor investment at the October 2025 initial closing.
 platform $30.0B n.a. in source; KIA joined June 2025, Temasek anchored October 2025 initial closing n.a.
KKR + GIP + CyrusOne + Global Infrastructure Partners
KKR and GIP completed the acquisition of CyrusOne when GIP AUM was over $81 billion.
 acquisition ~$15.0B completed March 25, 2022 n.a.
Meta + BlackRock
Meta and BlackRock committed to fund pro rata shares of approximately $14 billion in total El Paso development costs. At financial close Meta contributes land and construction-in-progress assets valued at approximately $2.3 billion, BlackRock makes a cash contribution of approximately $4.9 billion, Meta receives a one-time distribution of approximately $1 billion to align the 80/20 ownership split, and Meta provides residual value guarantees with an aggregate threshold of approximately $13 billion that decreases over time.
 jv equity ≥$14.0B Announced July 2026 El Paso AI data center (TX)
BlackRock
A portion of BlackRock's investment in the El Paso venture will be funded with proceeds from a $12.5 billion debt financing. Reported by the Financial Times (via GuruFocus on Yahoo Finance) on 24 July 2026: the BlackRock-owned vehicle's roughly $12 billion bond priced at yields above 7%, about 0.4 percentage points more than the Hyperion bonds, with maturity in 2048, rated A+ by S&P and AA- by Fitch and KBRA, and secured by 20 years of Meta rent payments beginning in 2028 Second source on pricing: IBTimes UK reported that the single tranche of amortizing notes, issued through the BlackRock-linked holding company Sopaipilla Investor, priced on 27 July 2026 at about $12.5 billion and a yield of about 7.5%, about 2.875 percentage points over 10-year Treasuries, with orders near $20 billion. JPMorgan and Morgan Stanley led the sale; the notes mature in 2048, are secured by 20 years of Meta rent beginning in 2028, and were rated A+ by S&P and AA- by Fitch. Meta contributed land and partly built assets worth about $2.3 billion and took a $1 billion distribution
 debt facility $12.5B Announced July 2026 with the BlackRock venture; bond pricing reported 24 July 2026 by the Financial Times El Paso AI data center (TX)
AES Corporation + Global Infrastructure Partners (BlackRock) + EQT Infrastructure + CalPERS + Qatar Investment Authority
A consortium led by BlackRock's Global Infrastructure Partners and EQT, with CalPERS and the Qatar Investment Authority, received CFIUS clearance to acquire AES, parent of AES Ohio, with closing expected in late 2026 or early 2027 subject to remaining approvals. Ohio lawmakers and consumer advocates asked PUCO for local hearings, citing BlackRock's data center investments as a potential conflict given AES's data-center-driven load growth.
 Take-private acquisition at $15 per share in cash ~$10.7B Agreed March 2026; PUCO staff recommended approval July 2026; CFIUS approval received Thursday 27 August 2026 and disclosed 28 August 2026 n.a.
CoreWeave + Blackstone + Magnetar + Coatue + Carlyle + CDPQ + BlackRock + DigitalBridge
Blackstone-led delayed-draw term loan with Magnetar, Coatue, Carlyle, CDPQ, BlackRock and DigitalBridge participating.
 debt facility $7.5B May 17, 2024 n.a.
xAI + A16Z + Blackrock + Fidelity Management & Research Company + Kingdom Holdings + Lightspeed + MGX + Morgan Stanley + OIA + QIA + Sequoia Capital + Valor Equity Partners + Vy Capital
xAI closed its Series C funding round of $6 billion with participation from key investors, bringing its total funding to date over $12 billion.
 equity raise ≥$6.0B 23 December 2024 n.a.
Aligned Data Centers + AI Infrastructure Partnership + MGX + Global Infrastructure Partners
After closing the $40 billion acquisition of Aligned from Macquarie Asset Management, the AIP, MGX and GIP consortium plans to invest $5 billion in the company, primarily to expand capacity. Aligned has more than 6.4 GW of operational and planned capacity across the Americas, according to the report
 equity raise ~$5.0B Reported by Bloomberg 21 July 2026, via The Real Deal n.a.
CyrusOne + KKR + GIP + Kirkland & Ellis (counsel)
Kirkland advised CyrusOne on a $1.25 billion SASB CMBS financing secured by a portfolio of six data centers in North Carolina, Ohio and Texas. Use of proceeds and property MW were not disclosed. This is a separate transaction from record cyrusone-cmbs-1050, which Kirkland announced on 20 May 2026 as a $1.05 billion loan secured by one property near Dallas (the DFW3 and DFW4 buildings in Allen, Texas, per Bisnow)
 cmbs $1.2B Announced 20 July 2026 n.a.
CyrusOne + KKR + GIP
CMBS refinancing for KKR- and GIP-owned CyrusOne secured by its DFW3 and DFW4 data centers on Chelsea Boulevard in Allen, Texas, 76.5 MW combined, appraised at nearly $1.6 billion (66.8% loan to value) per the presale report cited by Bisnow. Separate from the $1.25 billion six-property CMBS in record cyrusone-cmbs-1250-2026
 other $1.1B Announced 20 May 2026 n.a.
Blue Owl Capital + IPI Partners + ICONIQ (partnership)
Blue Owl acquired IPI Partners' business and simultaneously entered a partnership with ICONIQ; the acquirer was Blue Owl, not ICONIQ.
 acquisition ~$1.0B agreed October 7, 2024; completed January 6, 2025 n.a.
Groq + Disruptive + BlackRock + Neuberger Berman + Samsung + Cisco + Altimeter + 1789 Capital
Round led by Disruptive with BlackRock, Neuberger Berman, Samsung, Cisco, Altimeter and 1789 Capital participating.
 equity raise $750M September 17, 2025 n.a.
Groq + BlackRock Private Equity Partners + Cisco + Samsung Catalyst
Round led by BlackRock Private Equity Partners with Cisco and Samsung Catalyst.
 equity raise $640M August 2024 n.a.
BlackRock + Global Infrastructure Partners
Created a combined infrastructure platform with approximately $170 billion of client AUM, around 600 employees and more than 300 investments.
 acquisition n.a. completed October 1, 2024 n.a.
ACS Group + Global Infrastructure Partners + BlackRock + Coravel
ACS and GIP launched Coravel as a 50-50 data center platform with a 1.7 GW development portfolio (1.2 GW IT) across Europe, the United States and Australia. Its first long-term hyperscaler agreement covers about 140 MW across three facilities on a Dallas-Fort Worth campus, with rights to about 100 MW more and service dates through 2028
 jv n.a. Announced 15 July 2026 Coravel Dallas-Fort Worth campus (TX)
Greenlight Electricity Centre Limited Partnership (Pembina Pipeline, Morgan Stanley Infrastructure Partners, Kineticor) + Aecon Group + Tecnicas Reunidas + Siemens Energy
A fixed-price EPC contract and Siemens Energy equipment and service agreements were reported for the Greenlight Electricity Centre in Sturgeon County, Alberta, a combined-cycle gas plant of 932 MW initially, expandable to 1,864 MW of permitted capacity, intended to serve data center development. About 85% of project costs are reported as secured under fixed-price agreements Pembina, Morgan Stanley Infrastructure Partners and Kineticor took a positive final investment decision, and the plant will supply the co-located data centre customer behind the meter under a long-term tolling agreement
 other n.a. Final investment decision and EPC award announced 2 July 2026; in service expected in the second half of 2030 n.a.
Cologix + Cologix Canadian Issuer Limited Partnership + KBRA
KBRA published preliminary ratings on Cologix Canadian Issuer Limited Partnership Series 2026-1/2, the issuer's third Canadian data center ABS. The notes are secured by 21 operating data centers in Montreal, Toronto and Vancouver generating about $234.2 million of annualized revenue and $150.2 million of annualized adjusted NOI as of 31 March 2026
 abs n.a. KBRA preliminary ratings published 11 August 2026 n.a.
The record

Sourced facts on BlackRock / GIP / AI Infrastructure Partnership

  • AIP was launched in September 2024 and renamed on March 19, 2025, when NVIDIA and xAI joined Microsoft, BlackRock, GIP and MGX, with collaborations announced with GE Vernova and NextEra Energy.
  • AIP held its initial closing in October 2025 with Temasek as an anchor investor; Kuwait Investment Authority joined earlier, in June 2025.
  • The Aligned transaction was announced against the backdrop of New York's one-year moratorium on state environmental permits for new hyperscale data centers.
  • BlackRock is a named partner in NVIDIA's over $500 billion AI compute infrastructure financing-platform initiative.
Sources

Sources for BlackRock / GIP / AI Infrastructure Partnership

Every source cited on this page, once each. The full atlas source register is at Capital Atlas sources.

Private equity and infrastructure: one page each

Antin Infrastructure Partners 0Apollo Global Management 0Ares Management 2BlackRock / GIP / AI Infrastructure Partnership 0Blackstone 5Brookfield (BAM / Brookfield Infrastructure Partners) 2Copenhagen Infrastructure Partners 1DigitalBridge 5EQT 1Global Infrastructure Partners (as a distinct platform) 0I Squared Capital 0IPI Partners / Blue Owl 1KKR 3Macquarie Asset Management 1Oaktree Capital Management 1Pensions & Sovereign Wealth Funds (CalPERS, CPPIB, CDPQ/La Caisse, OTPP, PSP, ADIA, GIC, Mubadala, MGX) 0Silver Lake 0Stonepeak 2The Carlyle Group 2

The figure beside each provider is its count of named sites in the atlas.

Part of the North American Data Center Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so this page shows each figure as its source states it and never adds them into a single deployment number. Informational, not investment advice.
The SAVRN reference set

Seven references, one system

Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.

Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
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Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
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Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
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Grid Operator Watchlist
ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.
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Permits and Power Development
Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.
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SAVRN Scarcity Tracker
Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.
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