Musk’s xAI joins $30B Microsoft-BlackRock fund
Elon Musk’s AI company, xAI, has become the latest member of the AI Infrastructure Partnership (AIP), founded by BlackRock, Microsoft, Abu Dhabi-based MGX, and Global Infrastructure Partners. The partnership will invest over $30 billion in data centers and energy initiatives to satisfy the rising demand for AI technologies.
Nvidia, a leading AI chipmaker, has also joined as a full partner in the AIP, from its previous role as a technical advisor. The collaboration is designed to meet the substantial power and infrastructure demands required to build and deploy revolutionary AI solutions.
The AIP will raise $30 billion in the initial round from investors and firms with the long-term goal of raising as much as $100 billion in total investment, including debt. Investments will be focused mainly in the United States as well as other OECD member nations.
Energy firms GE Vernova and NextEra Energy have entered into collaboration with the AIP in order to accelerate the scalability of energy solutions for AI data centers. GE Vernova will also assist with supply chain planning and offering innovative, high-efficiency energy solutions.
This comes as the increasing collaboration among large technology and investment companies to construct the necessary infrastructure for the thriving AI industry gains momentum.
