The global consortium backed by Microsoft and BlackRock and MGX received funding from Singapore’s Temasek through a presentation at BlackRock’s investor day on Thursday.
The AI Infrastructure Partnership (AIP) established in September will use its initial $30 billion funding to build data centers and energy infrastructure for AI applications. The organization plans to reach its goal of $100 billion through debt and equity investments.
The Kuwait Investment Authority became the first non-founding financial partner of the consortium when it signed up earlier this month. The consortium includes Nvidia and Elon Musk’s xAI as well as other notable supporters.
The consortium directs its investments toward the United States because the country experiences high demand for compute power and energy capacity to support AI growth. The projects will serve applications that include ChatGPT and other large language models.
Sovereign investors including Temasek demonstrate increasing interest in AI infrastructure because they recognize its role as the future of digital transformation. AIP operates as one of the largest worldwide initiatives dedicated to constructing AI technology infrastructure.
