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Aligned Data Centers Completes Capital Raise of Over $12 Billion

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Aligned Data Centers, a key player in AI-related infrastructure, announced on Wednesday that it had successfully completed a capital raise totaling more than $12 billion. The funding aims to support the growing demand for specialized data centers, driven by the massive computing power requirements of artificial intelligence (AI) technologies.

Breakdown of the Capital Raise

The capital raise includes $5 billion in new primary equity, with funds managed by Macquarie Asset Management, and over $7 billion in new debt commitments. This significant funding boost will enable Aligned to expand its operations and develop new capacity for AI infrastructure.

Strategic Use of Funds

The proceeds from the capital raise will primarily be directed toward Aligned’s ambitious plans to develop more than 5 gigawatts of data center capacity across North America, Canada, and Latin America. These data centers will be essential in supporting the increasing demands of AI, which require vast amounts of computing power to link thousands of chips into large-scale clusters for processing.

AI’s Impact on Data Center Demand

The surge in AI adoption, from business applications to consumer products, has created a massive market for data centers. Companies ranging from startups to industry giants like Microsoft and Blackrock are heavily investing in the infrastructure necessary to support AI technologies. This has led to a broader trend of significant capital investments in AI data centers.

For example, Microsoft recently committed to spending approximately $80 billion in fiscal 2025 to develop data centers to support AI models and cloud applications. Similarly, in September, Microsoft and Blackrock announced a joint initiative to establish a $30 billion fund aimed at developing AI infrastructure and related energy projects.

Broader Trends in AI Infrastructure Investment

The demand for AI infrastructure is creating opportunities for both established players and new entrants in the space. One such example is Crusoe, an AI infrastructure startup that secured $600 million in a funding round last month, which brought its valuation to $2.8 billion.

 

J.P. Morgan Forecasts Data Center Spending Could Boost US GDP by 20 Basis Points in 2025-2026

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J.P. Morgan projects that spending on data centers could add between 10-20 basis points to the U.S. economy in 2025-2026, driven by the ongoing surge in technology investments fueled by the artificial intelligence (AI) boom. The growing demand for computing power, particularly following OpenAI’s launch of ChatGPT in 2022, has accelerated investments in data centers, which support the infrastructure necessary for AI development.

Major cloud companies, such as Microsoft and Alphabet, have been heavily investing in AI technologies, and J.P. Morgan anticipates that these investments will significantly contribute to U.S. gross domestic product (GDP). The economic boost is expected to stem from increased demand for data center construction, technology equipment, and power generation and transmission infrastructure. According to the bank’s estimates, data center spending could have contributed 0.1%-0.3% to GDP growth in 2024.

Additionally, J.P. Morgan noted that each new 5-10 gigawatt power generation capacity expansion could require up to $20 billion in investment, which would add 7 basis points to GDP. As U.S. power consumption is expected to hit record levels in 2025 and 2026, the federal government has taken action to support this growth, with President Joe Biden signing an executive order aimed at addressing the massive energy needs of rapidly expanding AI data centers.

The data center sector’s economic impact is expected to continue in the coming years, driven by advancements in AI innovation. However, J.P. Morgan cautioned that the long-term success of this growth will depend on whether the expected returns on these investments are realized, similar to previous technology booms.

Why Tech Giants Are Turning to Nuclear Power to Meet Energy Demands

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The tech industry’s growing appetite for energy, driven by artificial intelligence (AI) and cloud computing, is pushing global electricity demands to unprecedented levels. According to the U.S. Department of Energy, global electricity usage could increase by up to 75% by 2050, with tech companies’ AI ambitions serving as a significant factor.

Data centers supporting AI and cloud computing are becoming massive energy consumers, rivaling the electricity demands of entire cities. For instance, Mark Nelson, managing director of Radiant Energy Group, explained, “A new data center that needs the same amount of electricity as, say, Chicago, cannot just build its way out of the problem unless they understand their power needs—steady, 100% power, 24/7, 365 days a year.”

To address these growing demands while staying committed to sustainability goals, tech giants like Google, Amazon, Microsoft, and Meta are increasingly investing in nuclear power. Nuclear energy offers a scalable, carbon-free, and always-on solution that complements intermittent renewable sources like wind and solar.

Michael Terrell, Google’s senior director of energy and climate, emphasized the advantages of nuclear energy: “It’s a carbon-free source of electricity. It’s a source of electricity that can be always on and run all the time. And it provides tremendous economic impact.”

For years, nuclear energy faced setbacks due to safety concerns, fears of meltdowns, and widespread misinformation. However, the energy landscape is shifting. Experts believe that tech companies’ investments could spark a “nuclear revival,” providing a sustainable energy pathway for both the tech industry and broader society.

As AI and data-driven technologies continue to expand, nuclear power may become an integral part of the energy transformation necessary to meet the rising demands of the digital era.