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Nvidia, xAI to Join BlackRock and Microsoft’s $30 Billion AI Infrastructure Fund
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Key Points
- NVIDIA and XAI are joining BlackRock and Microsoft’s AI infrastructure group, seeking $30 billion in funding.
- The team first announced in September that Blackrock and Microsoft are seeking to fund new data centers to power AI products.
- GE Vernova and Nextera Energy will also work with the group to develop “diverse energy solutions” for data centers.
nvidia(NVDA) and XAI will join the partnership between Blackrock (BLK) and Microsoft (MSFT) Invest billions of dollars to expand the infrastructure needed to power artificial intelligence projects.
BlackRock and Microsoft, as well as investment companies’ global infrastructure partners and MGX, First announce $30 billion fundraising campaign in September. On Wednesday, the two companies said AI heavyweight Nvidia and Tesla (TSLA) CEO Elon Musk’s startup XAI will join the renamed AI Infrastructure Partnership (AIP).
GE Vernova (GEV) and nextera Energy (NiThe companies said that it will also work with the group to “accelerate the scale of critical and diverse energy solutions for AI data centers.”
The organization said its efforts “has attracted a lot of capital and partners’ interests since its inception”, but did not say how much of the plans are in the $30 billion target planned that has been raised since September.
“We believe this unparalleled partnership of leading global companies in the AI ecosystem will bring technical expertise to meet this need along with private capital,” said Blackstone CEO Larry Fink.
NVIDIA shares rose 1% on Wednesday and fell 3% on Tuesday as markets react to CEOs Jansen Huang’s keynote speech At the GTC meeting. Shares in Microsoft, BlackRock, GE Vernova and Nextera were barely changed Wednesday morning.
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