Spanish ACS Group is nearing a $26.8 billion agreement with BlackRock's Global Infrastructure Partners (GIP) to develop data centers, according to Expansion. The deal involves GIP acquiring a 50% stake in ACS's Digital & Energy division, with €5 billion in capital injections and €18 billion in debt. This partnership comes as AI computing demand surges, driving digital infrastructure valuations to new highs. ACS aims to elevate its data center business valuation to between €3 billion and €5 billion by 2030, and this collaboration could push it to the upper end of that range. GIP, which manages over $180 billion in assets, recently participated in a $40 billion acquisition of U.S. data center firm Aligned, alongside Microsoft and Nvidia. Morgan Stanley projects $400 billion in AI infrastructure spending by major tech companies this year.