BlackRock and Microsoft Launch $30 Billion AI Fund

BlackRock, Microsoft, and MGX have launched the Global AI Infrastructure Investment Partnership (GAIIP), aiming to raise $30 billion in private equity and leverage up to $100 billion, including debt financing, to build data centers and energy infrastructure for artificial intelligence (AI). This initiative responds to the surging demand for AI technologies, which require substantial computational power and energy. Nvidia will contribute its expertise in AI data centers, and the focus will be on projects primarily in the U.S. with some investments in partner countries. The collaboration underscores the need for massive infrastructure investments to sustain AI growth and includes a focus on energy efficiency and decarbonization. BlackRock's CEO, Larry Fink, emphasized the multi-trillion-dollar market potential of these investments.