BlackRock Partnership Raises $12.5 Billion for Data Center Bets
BlackRock raised $12.5 billion for the AI investment partnership it formed in 2024 with Microsoft and United Arab Emirates-backed MGX, giving it more firepower to invest in data centers and energy resources.
Larry Fink, CEO of BlackRock, said Thursday it raised the money from the founders of the partnership, Global AI Infrastructure Investment Partnership, and outside investors. The partnership is aiming to invest $30 billion in equity and as much as $100 billion when including debt.
The partnership last year invested in a $40 billion consortium deal to acquire Aligned Data Centers that’s expected to close in the first half of this year. MGX, which made an additional investment as part of the consortium, will be Aligned’s largest shareholder following the sale, The Information reported.