Nvidia, Microsoft, and BlackRock just closed a massive AI data center deal

AI darling Nvidia has just closed another big data center deal, this time as part of a group that includes Microsoft, BlackRock and others.

A consortium including BlackRock (BLK), Nvidia (NVDA), and Microsoft (MSFT) said Wednesday it will buy AI data center infrastructure company Aligned Data Centers in an agreement valued at $40 billion.

Aligned Data Centers is one of the largest and fastest-growing data center companies in the world, and the group said the purchase will “fuel the expansion of next-generation cloud and AI infrastructure.”

The deal marks the latest in a series of high-profile agreements and partnerships for AI chip leader Nvidia, and infrastructure deals for BlackRock, which has been eyeing energy providers as another way to capitalize on the AI ​​boom.

With the acquisition, “we further our goal of delivering the infrastructure needed to support the future of artificial intelligence, while offering attractive opportunities for our customers to participate in its growth,” said Larry Fink, BlackRock CEO and president of AIP.

Shares of Nvidia and Microsoft pared early gains and fell about 1% in recent trading. BlackRock shares fell less than 1%.

This article has been updated since it was first published for clarity and to reflect the most recent stock price values.