Microsoft-Backed Partnership Aims to Raise $100 Billion for AI Infrastructure
A new artificial intelligence (AI) partnership that includes Microsoft and BlackRock aims to mobilize up to $100 billion in total investment potential for data centers and sources of power for those facilities.
The Global AI Infrastructure Investment Partnership (GAIIP) includes Microsoft; BlackRock; Global Infrastructure Partners (GIP), which is an infrastructure investor that is set to be acquired by BlackRock on Oct. 1; and MGX, which is a technology investment company focused on partnerships in the United Arab Emirates (UAE) and globally, the companies said in a Tuesday (Sept. 17) press release.
The partnership will initially seek to unlock $30 billion of private equity capital over time and then mobilize up to $100 billion in total investment potential, including debt financing, according to the release.
The infrastructure investments will be made in the U.S. and in U.S. partner countries, per the release.
“We are committed to ensuring AI helps advance innovation and drives growth across every sector of the economy,” Microsoft Chairman and CEO Satya Nadella said in the release. “The Global AI Infrastructure Investment Partnership will help us deliver on this vision, as we bring together financial and industry leaders to build the infrastructure of the future and power it in a sustainable way.”
BlackRock Chairman and CEO Larry Fink added in the release: “Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multitrillion-dollar long-term investment opportunity. Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs and drive AI technology innovation.”
MGX was launched in March by two founding partners — global investment company Mubadala and AI firm G42 — to invest in the development and adoption of AI and advanced technologies, both in the UAE and globally, with a focus on AI infrastructure, AI core technologies and AI applications.
According to the Tuesday press release about the launch of the partnership, Nvidia will support GAIIP with expertise in AI data centers and AI factories. Other industry leaders will also be invited to help enhance AI supply chains and energy sourcing.
This news comes on the same day that the White House announced the formation of a new task force aimed at enhancing the development of data centers in response to the burgeoning needs of AI infrastructure.
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