[Spanish ACS Group and BlackRock's GIP Reach $26.8 Billion Data Center Cooperation Agreement] According to Spanish media outlet Expansion, the Spanish ACS Group is close to reaching a $26.8 billion (approximately €23 billion) cooperation agreement with Global Infrastructure Partners (GIP), a subsidiary of BlackRock, for the development of data centers. The agreement includes GIP acquiring a 50% equity stake in ACS's Digital & Energy division, which involves a phased capital injection of €5 billion and €18 billion in debt. Amid surging demand for AI computing and limited power capacity, valuations for digital infrastructure have reached record highs. ACS previously planned to increase the valuation of its data center business to between €3 billion and €5 billion by 2030, and this partnership could push its valuation to the higher end of that range. GIP manages over $180 billion in global assets and last month participated in the $40 billion acquisition of U.S. data center company Aligned alongside Microsoft and Nvidia. Morgan Stanley estimates that major tech companies will spend $400 billion on AI infrastructure this year.