AI Infrastructure Acquisition Corp. (AIIA) is a SPAC — a blank check company with no operations — formed to identify, merge with, or acquire a private company in the AI infrastructure space. AIIA raised $138M in its IPO in October 2025 at $10.00 per unit, with proceeds held in trust invested in U.S. Treasury obligations while AIIA searches for a target. AIIA is focused on businesses involved in high-performance computing, data center infrastructure, cloud and edge computing, semiconductor acceleration (GPUs and specialized AI chips), and broader digital infrastructure enabling AI and machine learning. AIIA has until April 2027 to complete a deal; if no deal closes by then, AIIA liquidates and returns trust funds to shareholders. As of its most recent filing, AIIA has not identified a target or entered into any definitive agreement. AIIA's acquisition criteria include targets with enterprise values above $100M, defensible competitive positions via differentiated technology or customer relationships, and potential for strong free cash flow. AIIA's founders hold a "promote" — a low-cost equity position that becomes valuable only if a business combination is completed — aligning their incentives with deal completion. AIIA is led by Michael D. Winston and George Murnane, with backgrounds in finance, capital markets, and entrepreneurship.