Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Microsoft, BlackRock, a global investment company and MGX, an Abu Dhabi-based technology focused fund, are launching more than $30 billion fund to build data centres and energy projects, a statement from the companies said.
The programme known as the Global AI Infrastructure Investment Partnership (GAIIP) aims to make investments to meet the growing demand for computing power, as well as create energy infrastructure to create new sources of power for these facilities.
“These infrastructure investments will be chiefly in the US and partner countries,” the statement said.
The partnership will support an open architecture and broad ecosystem, providing full access on a non-exclusive basis for a diverse range of partners and companies, the statement said.
Nvidia will support GAIIP, share its expertise in AI data centers and AI factories, the statement said.
The partnership will initially seek to unlock $30 billion of private equity capital from investors, asset owners and corporates, the statement said. The project has the potential to mobilise up to $100 billion in total investment if debt financing is included.
“Mobilising private capital to build AI infrastructure like data centres and power will unlock a multi-trillion-dollar long-term investment opportunity,” said Larry Fink, Chairman and CEO of BlackRock. “Data centres are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation.”
“We are committed to ensuring AI helps advance innovation and drives growth across every sector of the economy,” said Satya Nadella, Chairman and CEO of Microsoft. “The Global AI Infrastructure Investment Partnership will help us deliver on this vision as we bring together financial and industry leaders to build the infrastructure of the future and power it in a sustainable way.”
MGX is a technology investment company based in Abu Dhabi. It was established in early 2024 with the aim of accelerating the development and adoption of artificial intelligence (AI) and other advanced technologies. MGX is a joint venture between Mubadala Investment Company and G42, a leading AI technology company in the UAE. It focuses on investing in AI companies and the infrastructure required to make AI more widely available.
