BlackRock, an American multinational investment company, is set to launch a huge AI-focused megafund, which exceeds more than USD 30 billion, in partnership with Abu Dhabi-backed investment outfit MGX and Microsoft.
This largest fund on Wall Street will emphasize developing data centers and fund energy infrastructure to assist AI. Nvidia, a full-stack computing company with data-center-scale offerings, also plans to contribute its subject matter expertise revolving around the already highly demanding energy needs of AI technologies, which are estimated to grow as well.
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Blackrock is deploying the funds along with Global Infrastructure Partners (GIP). Blackrock decided to take over GIP for USD 12.5 billion in a deal back in January, which is now BlackRock’s infrastructure investment division.
Read More: BlackRock and Microsoft Plan for a USD 30 Billion Megafund for AI-focused Infrastructure