BlackRock, Global Infrastructure Partners, Microsoft, MGX Launch AI Partnership

By Connor Hart

BlackRock, Global Infrastructure Partners, MGX and Microsoft will invest up to $100 billion expanding and building artificial-intelligence data centers.

The partnership, called the Global AI Infrastructure Investment Partnership, will additionally build out energy infrastructure to create power sources for the facilities, the companies said Tuesday.

New York investment firms BlackRock and Global Infrastructure Partners; MGX, a United Arab Emirates state-backed company created earlier this year to invest in artificial-intelligence projects; and tech giant Microsoft said the partnership will initially seek $30 billion of private equity capital. Total investment potential will increase up to $100 billion including debt financing, they added.

Nvidia will support the partnership, providing expertise in AI data centers and factories. The partnership will additionally benefit from Microsoft's involvement, and will also engage with industry leaders to enhance AI supply chains and energy sourcing.

Most of the infrastructure investments will be made in the U.S., though some will be in U.S. partner countries.

"Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity," said Larry Fink, BlackRock's chairman and top executive.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 17, 2024 17:21 ET (21:21 GMT)

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