The FT reported today that BlackRock, a giant investment firm, will start a substantial AI-focused fund worth more than $30 billion with Microsoft and MGX, an investment firm backed by Abu Dhabi
The news source says that one of Wall Street’s biggest funds will focus on building data centers and paying for energy facilities that AI can use. Chipmaker Nvidia is also said to be helping by sharing its knowledge about making AI technologies use less energy, which is already a big problem that will only worsen over time.
The fund will be run by BlackRock and Global Infrastructure Partners (GIP), which BlackRock agreed to buy for $12.5 billion in January. GIP is now BlackRock’s unit for investing in infrastructure.
