Macquarie confident in AI, data centre future after $40 billion Aligned sale

Core Insights - The sale of Aligned Data Centers for $40 billion by Macquarie Asset Management (MAM) is not indicative of a peak in the global data center boom [1][2] - MAM's head, Ben Way, emphasized that the decision to sell was based on the optimal timing for exit rather than a downturn in the sector [2][5] - Major tech companies are projected to spend $400 billion on AI infrastructure in 2023, raising concerns about a potential bubble in the market [3] Company Overview - Aligned Data Centers has become one of the largest data center operators globally under MAM's ownership for seven years, with a current and planned capacity of 5 GW [1][4] - MAM held approximately 50% of Aligned, with co-investors holding an additional 20%, marking the largest private equity exit for the Australian fund manager [5] Market Context - The ongoing investment in data centers and advanced chip purchases by global companies is driving up valuations for tech firms, including OpenAI and Nvidia [3] - MAM is also investing up to $5 billion in a partnership with Applied Digital to support the development of high-performance computing data centers [4] - MAM has additional investments in various data service companies across the U.S., UK, China, and South Korea [6] Stock Performance - Following the announcement of the sale, Macquarie Group's shares increased by 5.13%, reaching A$229, significantly outperforming the S&P/ASX200 index [6]