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Microsoft, MGX, and BlackRock to raise $100 billion for AI data centers and energy

Article by Gadjo Sevilla  |  Sep 18, 2024
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Microsoft, MGX, and BlackRock to raise $100 billion for AI data centers and energy
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Topics
Artificial Intelligence (AI)
Technology
Business Strategies & Trends
United States

The news: Microsoft, BlackRock, and MGX, an Abu Dhabi-based tech investment firm, joined forces to raise $100 billion to develop AI-focused data centers and energy infrastructure.

Through the Global Artificial Intelligence Infrastructure Investment Partnership (GAIIP), the consortium aims to initially raise $30 billion, with a future target of $100 billion, to support the growing demand for AI workloads.

In February, OpenAI CEO Sam Altman proposed a $7 trillion investment in chip development, underscoring the massive capital needed to realize the promise of sustainable AI growth.