BlackRock (BLK, Financials), Global Infrastructure Partners, Microsoft (MSFT, Financials), and MGX announced the expansion of the AI Infrastructure Partnership with the inclusion of NVIDIA (NVDA, Financials) and xAI, aiming to accelerate investment in AI data centers and related infrastructure. The move is part of a broader initiative to meet the growing demand for AI-ready facilities.
Originally slated for September 2024, the alliance aims to raise $30 billion in financing from companies, asset owners, and investors. With debt funding, overall investments might be $100 billion. Emphasizing the United States and OECD nations, the money will finance next-generation artificial intelligence infrastructure.
Leveraging its knowledge in AI computing and infrastructure development, NVIDIA will remain AIP's technical advisor going forward. Additionally part of the expansion is working with GE Vernova and NextEra Energy (NEE, Financials) to improve power sources for artificial intelligence data centers. While NextEra Energy will provide renewable and conventional energy solutions to fulfill the growing energy demand, GE Vernova will help with supply chain planning.
The chairman of MGX, Sheikh Tahnoon bin Zayed Al Nahaney, said that future economic changes depend critically on artificial intelligence. According to Jensen Huang, CEO of NVIDIA, artificial intelligence infrastructure will accelerate sectors and inspire creativity. While BlackRock CEO Larry Fink stressed AI's ability to transform the world economy, Microsoft CEO Satya Nadella underlined its part in economic development.
The AI Infrastructure Partnership seeks to build an open-architecture investment platform inviting more investors to assist economic development powered by artificial intelligence.
