Microsoft and Abu Dhabi's MGX To Back $30 Billion BlackRock AI Infrastructure
(Wednesday September 18, 2024 @11:30PM (BeauHD)
from the AI-arms-race-continues dept.)
- Reference: 0175032437
- News link: https://news.slashdot.org/story/24/09/18/2027246/microsoft-and-abu-dhabis-mgx-to-back-30-billion-blackrock-ai-infrastructure
- Source link:
An anonymous reader quotes a report from Data Center Dynamics:
> BlackRock [1]plans to launch a new $30 billion artificial intelligence (AI) investment fund focused on data centers and energy projects. Microsoft and Abu Dhabi-backed investment company MGX are general partners of the fund. GPU giant Nvidia will also advise. Run through BlackRock's Global Infrastructure Partners fund, which it acquired for $12.5 billion earlier this year, the 'Global AI Investment Partnership,' plans to raise up to $30 billion in equity investments. Another $70 billion could come via leveraged debt financing.
"Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity," said Larry Fink, chairman and CEO of BlackRock. "Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation."
Brad Smith, Microsoft's president, added: "The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance. This financial partnership will not only help advance technology, but enhance national competitiveness, security, and economic prosperity."
Bayo Ogunlesi, CEO of Global Infrastructure Partners, said: "There is a clear need to mobilize significant amounts of private capital to fund investments in essential infrastructure. One manifestation of this is the capital required to support the development of AI. We are highly confident that the combined capabilities of our partnership will help accelerate the pace of investments in AI-related infrastructure."
[1] https://www.datacenterdynamics.com/en/news/microsoft-and-abu-dhabis-mgx-to-back-30bn-blackrock-ai-infrastructure-fund/
> BlackRock [1]plans to launch a new $30 billion artificial intelligence (AI) investment fund focused on data centers and energy projects. Microsoft and Abu Dhabi-backed investment company MGX are general partners of the fund. GPU giant Nvidia will also advise. Run through BlackRock's Global Infrastructure Partners fund, which it acquired for $12.5 billion earlier this year, the 'Global AI Investment Partnership,' plans to raise up to $30 billion in equity investments. Another $70 billion could come via leveraged debt financing.
"Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity," said Larry Fink, chairman and CEO of BlackRock. "Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation."
Brad Smith, Microsoft's president, added: "The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance. This financial partnership will not only help advance technology, but enhance national competitiveness, security, and economic prosperity."
Bayo Ogunlesi, CEO of Global Infrastructure Partners, said: "There is a clear need to mobilize significant amounts of private capital to fund investments in essential infrastructure. One manifestation of this is the capital required to support the development of AI. We are highly confident that the combined capabilities of our partnership will help accelerate the pace of investments in AI-related infrastructure."
[1] https://www.datacenterdynamics.com/en/news/microsoft-and-abu-dhabis-mgx-to-back-30bn-blackrock-ai-infrastructure-fund/
Wow (Score:1)
by The Cat ( 19816 )
Just think of all the layoffs!
One pictures a middle-aged man wearing nothing but black socks in a leather-appointed office trembling as he opens a bottle of lotion.
Why not just throw that money into a volcano? (Score:3)
About as effective and more environmentally friendly.
Re: (Score:2)
> About as effective and more environmentally friendly.
With the amount of sheer arrogance and narcissism in the world, I’m beginning to believe no one will quit until the dot bomb looks like a financial fart by comparison.
You call THAT a “Great” Depression? Tell the Insider Trading Congresscritter to hold my Theranos vial..
Re: (Score:2)
Yep, probably. People are getting more and more disconnected. Again.