Sept 17 (Askume) – BlackRock (BLK.N) and Microsoft (MSFT.O) said on Tuesday they are launching a fund worth more than $30 billion to invest in artificial intelligence infrastructure to build out data centres and energy projects.
Artificial intelligence models, especially those used for deep learning and large-scale data processing, require large amounts of computing power, resulting in high energy consumption.
The computing demands of artificial intelligence require technology companies to cluster thousands of chips together to achieve the necessary data processing power, driving demand for these specialized data centers.
BlackRock and Microsoft said the investment vehicle, called the Global Artificial Intelligence Infrastructure Investment Partnership, is designed to help strengthen artificial intelligence supply chains and energy procurement.
Abu Dhabi-backed investment firm MGX will become a general partner in the fund, while artificial intelligence chip company Nvidia (NVDA.O) will provide expertise.
The companies said the partnership will raise up to $100 billion in total investment capabilities, including debt financing.
The companies said the investments will be made primarily in the United States and the rest in its partner countries.
This development was first reported by the Financial Times.
