Insider: BlackRock and Microsoft plan to set up a $30 billion fund to address AI energy needs

Odaily Odaily News: People familiar with the matter said that BlackRock is preparing to launch an artificial intelligence investment fund of more than $30 billion with technology giant Microsoft to build data centers and energy projects to meet the growing demand brought by artificial intelligence. BlackRock will launch this fund together with its new infrastructure investment department Global Infrastructure Partners, which will become one of the largest investment tools in Wall Street history. Microsoft and Abu Dhabi-backed investment company MGX are general partners of the fund. People familiar with the matter also said that chipmaker Nvidia will provide expertise. The investment tool aims to address the staggering power and digital infrastructure needs for building artificial intelligence products, which are expected to face serious production capacity bottlenecks in the coming years. The computing power of artificial intelligence requires more energy than previous technological innovations and strains existing energy infrastructure. (FT)