The AI-related infrastructure company Aligned Data Centers said on Wednesday that it has raised over $12 billion in a new round of funding.
Large amounts of processing power are needed for artificial intelligence, which increases the need for specialized data centers that let tech companies connect thousands of chips in clusters.
More than $7 billion in new loan commitments and $5 billion in new primary equity, including funds managed by Macquarie Asset Management, are part of the capital raise.
Aligned, a company based in Plano, Texas, stated that the money raised would go toward expanding its projected future capacity of more than 5 gigawatts throughout North America, Latin America, and Canada.
Numerous businesses, ranging from startups to industry titans like Microsoft and Blackrock, have invested in AI data centers as a result of the massive adoption of AI in both personal and professional contexts.
The two businesses announced in September that they would establish a fund of over $30 billion to invest in AI infrastructure for the construction of data centers and energy projects.
Microsoft announced earlier this month that it will invest roughly $80 billion in fiscal 2025 to build data centers for the deployment of cloud-based apps and AI model training.
In a late-stage investment round last month, Crusoe, another provider of AI infrastructure, raised $600 million, valuing the business at $2.8 billion.
