🔥 BlackRock to Launch AI Infrastructure Fund
posted 18 Sept 2024
BlackRock, the global asset management firm, is set to launch a more than $30 billion investment fund aimed at advancing AI infrastructure, including power projects and data centers. This will be one of the largest funds of its kind on Wall Street.
Microsoft and investment company MGX are major partners in this initiative, with Nvidia serving as a technical advisor. The fund's main objective is to finance the development of critical energy capacity and infrastructure needed for AI growth.
The country and the world are going to need more capital investment to accelerate the development of the AI infrastructure needed. This kind of effort is an important step,said Microsoft President Brad Smith.
The fund is expected to launch soon, positioning itself as a top player in infrastructure investment. BlackRock CEO Larry Fink noted that energy demand hit its highest levels in 50 years.
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