BlackRock (NYSE: BLK), Global Infrastructure Partners (GIP), Microsoft (NASDAQ: MSFT), and Abu Dhabi-based technology investor MGX announced the formation of the Global AI Infrastructure Investment Partnership. GAIIP will make investments in new and expanded data centers to meet growing demand for computing power, as well as new energy infrastructure needed to support these facilities. These infrastructure investments will be chiefly in the U.S., fueling AI innovation and economic growth, and the remainder will be invested in U.S. partner countries, BlackRock said in a statement.
GAIIP will support an open architecture and broad ecosystem, providing full access on a non-exclusive basis for a diverse range of partners and companies. Graphics processing unit designer and manufacturer, NVIDIA (NASDAQ: NVDA) will support GAIIP with expertise in AI data centers and AI factories to benefit the AI ecosystem. GAIIP will also actively engage with industry leaders to help enhance AI supply chains and energy sourcing for the benefit of its customers and the industry. The partnership will initially seek to raise $30 billion of private equity capital over time from investors, asset owners, and corporates, which in turn it expects will mobilize up to $100 billion in total investment potential when including debt financing.
The GAIIP founders say the partnership brings together a deep understanding of infrastructure and technology needed to enable AI through efficient scaling of data centers with energy, power, and decarbonization investment.
“Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity,” comments Larry Fink, BlackRock Chairman and CEO. “Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation.”
“The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance,” adds Brad Smith, Microsoft Vice Chair and President. “This financial partnership will not only help advance technology, but enhance national competitiveness, security, and economic prosperity.”
By John Celentano, Inside Towers Business Editor
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