Investment giant BlackRock is teaming up with Microsoft and Abu Dhabi-backed investment firm MGX to launch a massive $30 billion AI-focused investment fund, the FT reported today.
The fund, one of Wall Street's largest, will focus on financing the build-out of data centers and the energy infrastructure that supports AI, according to the publication, with chip giant Nvidia also reportedly providing expertise on the energy needs of AI technology, which is expected to face significant capacity constraints in the coming years.
BlackRock is launching the fund in collaboration with Global Infrastructure Partners (GIP), which BlackRock agreed to acquire for $12.5 billion in January. GIP is now BlackRock's infrastructure investment arm.