BlackRock and Microsoft have announced plans to launch a fund exceeding $30 billion, aimed at investing in artificial intelligence (AI) infrastructure projects, including data centers and energy systems.
The initiative, called the Global AI Infrastructure Investment Partnership, will address the growing demand for advanced computing power driven by AI technologies like deep learning and large-scale data processing.
IDC predicts that business spending to adopt AI, to use AI in existing business operations, and to deliver better products/services to business and consumer customers will have a cumulative global economic impact of $19.9 trillion through 2030 and drive 3.5 percent of global GDP in 2030.
The rise of AI has created a need for highly specialized data centers, which require thousands of interconnected chips to manage the significant computational demands. This, in turn, has led to increased energy consumption, making AI infrastructure a critical area for investment. The new fund will focus on enhancing AI supply chains and improving energy sourcing, the companies said.
The fund will involve MGX, an Abu Dhabi-backed investment company, as a general partner, while AI chip leader Nvidia will provide technical expertise. The total investment potential could reach up to $100 billion, including debt financing, with the majority of the investments expected to be in the U.S. and partner countries.
This venture marks a significant step in the continued expansion of AI technology, with both Microsoft and BlackRock positioning themselves at the forefront of infrastructure development for the rapidly growing sector.
