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Microsoft, BlackRock, GIP, and MGX launch AI partnership

Partnership aims to attract $30B initially, with up to $100B in investment opportunity

Microsoft, BlackRock, GIP, and MGX launch AI partnership
2024-09-18 11:30:13

ISTANBUL

With the potential for artificial intelligence continuing to make headlines every day, a US software giant announced its new venture into the field.

Microsoft, BlackRock, Global Infrastructure Partners (GIP), and the Emirati tech investment firm MGX have launched a new artificial intelligence (AI) partnership to boost US competitiveness in the field.

The Windows firm said on Tuesday that the Global AI Infrastructure Investment Partnership (GAIIP) was made to invest in new data centers to meet the need for energy infrastructure to boost economic growth in the US.

The partnership aims to attract $30 billion of private equity capital initially, and up to $100 billion in investment opportunities.

The GAIIP will be supported by the AI chipmaker Nvidia, while it will be open to a diverse range of other companies on a non-exclusive full access ecosystem.