Stock market data from sources like NASDAQ or Yahoo Finance

BlackRock and Microsoft to Launch $30 Billion AI Fund with Nvidia, MGX

Sep 17, 2024, 11:43 PM

BlackRock and Microsoft are collaborating to launch a $30 billion artificial intelligence (AI) investment fund. The fund aims to build data centers and energy projects to meet the growing demands of AI technology. Nvidia and Abu Dhabi-backed MGX are also participating in the initiative, providing expertise and additional support. The partnership, which includes Global Infrastructure Partners, could potentially raise up to $100 billion in total capital for AI infrastructure projects. This collaboration, reported by the Financial Times, marks one of the largest AI-focused investment efforts on Wall Street.