The Global Artificial Intelligence Infrastructure Investment Partnership (GAIIP) has announced plans to raise up to $100 billion to develop data centers and energy infrastructure necessary for artificial intelligence (AI) workloads. The initial goal is to assemble $30 billion in capital, with the potential to bring in an additional $70 billion through debt financing.
Microsoft CEO Satya Nadella emphasized that the initiative aims to bring together financial and industry leaders to build the infrastructure of the future while ensuring sustainability. Microsoft, BlackRock, Global Infrastructure Partners (GIP), and MGX are participating companies in the partnership.
The demand for data centers has surged as tech companies like Nvidia and OpenAI’s ChatGPT require powerful GPUs that consume significant power. This bottleneck is driving investment in infrastructure expansion to support growing AI workloads. Microsoft’s own capital expenditures, totaling $19 billion in its fiscal fourth quarter, are also contributing to the effort.
The acquisition of GIP by BlackRock for $3 billion and MGX’s launch as a tech investor in the United Arab Emirates further solidify the partnership’s commitment to developing AI infrastructure.
Source: https://www.cnbc.com/2024/09/17/microsoft-blackrock-form-gaiip-to-invest-in-ai-data-centers-energy.html