BlackRock And Microsoft To Launch $30 Billion AI Investment Fund
According to PANews, BlackRock is planning to collaborate with tech giant Microsoft to launch an artificial intelligence investment fund exceeding $30 billion. The fund aims to establish data centers and energy projects to meet the growing demand for power and infrastructure driven by AI advancements. This initiative will be undertaken by BlackRock's new infrastructure investment division, Global Infrastructure Partners, making it one of Wall Street's largest investment tools to date. Microsoft and Abu Dhabi-backed investment firm MGX will serve as general partners for the fund. Additionally, chip manufacturer Nvidia is expected to provide expertise for the project. The investment tool is designed to address the substantial power and digital infrastructure needs required for developing AI products. As AI's computational power demands surpass those of previous technological innovations, existing infrastructure is anticipated to face significant capacity constraints in the coming years.
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