BlackRock and Microsoft are backing a $30 billion AI infrastructure project

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BlackRock, Microsoft, Global Infrastructure Partners (GIP) and MGX have joined forces to create the Global AI Infrastructure Investment Partnership (GAIIP), a new initiative aimed at channeling $30 billion in private capital into expanding data centers and improving essential energy infrastructure for artificial. smart technologies.

Discussing the launch of GAIIP, Larry Fink, Chairman and CEO of BlackRock, said that investing in AI infrastructure, such as data centers and power supplies, is a massive long-term investment opportunity. He believes these investments will unlock a multi-trillion dollar market.

“Data centers are the cornerstone of the digital economy, and these investments will help drive economic growth, create jobs and drive innovation in AI technology,” Fink said.

The focus will be on the US, with some funding allocated to US partner countries, Microsoft said in a press release on Tuesday. The move comes a day after Microsoft announced it was setting up two AI centers in Abu Dhabi to promote responsible AI practices.

GAIIP will also prioritize energy efficiency and decarbonisation in its infrastructure projects. Entities want to ensure that AI development is aligned with environmental goals.

“We are committed to ensuring that AI helps drive innovation and drive growth in every sector of the economy,” said Satya Nadella, Microsoft chairman and CEO.

“The Global AI Infrastructure Investment Partnership will help us realize this vision as we bring together financial and industry leaders to build the infrastructure of the future and power it in a sustainable way,” Nadella added.

GAIIP members plan to mobilize a total investment potential of up to $100 billion when including debt financing.

“There is a clear need to mobilize significant amounts of private capital to finance critical infrastructure investment. One manifestation of this is the capital needed to support AI development,” said Bayo Ogunlesi, president and CEO of Global Infrastructure Partners, expressing optimism that the collaborative effort will play a key role in driving the growth and development of AI technology.

The partnership will bring together leading global investors and technology experts, combining a deep understanding of infrastructure and technology with power, energy and decarbonisation capabilities. Nvidia will also support GAIIP by providing its expertise in AI data centers and AI factories to benefit the broader AI ecosystem.

“Accelerated computing and generative AI are driving an increasing need for AI infrastructure for the next industrial revolution,” said Jensen Huang, founder and CEO of NVIDIA.

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