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Key Points
BlackRock’s Global Infrastructure Partners and Spanish construction company ACS formed a 50-50 joint venture for data center development.
The venture is seeded by ACS' portfolio, valued at $2.33 billion with a 1.7-gigawatt capacity across Europe, Australia and the U.S.
The move underscores BlackRock’s deeper dive into the booming, AI-driven data center market, following GIP's acquisition by BlackRock last year and BlackRock's recent agreement to acquire Aligned Data Centers for roughly $40 billion.