Microsoft and Abu Dhabi's MGX To Back $30 Billion BlackRock AI Infrastructure 11
An anonymous reader quotes a report from Data Center Dynamics: BlackRock plans to launch a new $30 billion artificial intelligence (AI) investment fund focused on data centers and energy projects. Microsoft and Abu Dhabi-backed investment company MGX are general partners of the fund. GPU giant Nvidia will also advise. Run through BlackRock's Global Infrastructure Partners fund, which it acquired for $12.5 billion earlier this year, the 'Global AI Investment Partnership,' plans to raise up to $30 billion in equity investments. Another $70 billion could come via leveraged debt financing. "Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity," said Larry Fink, chairman and CEO of BlackRock. "Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation."
Brad Smith, Microsoft's president, added: "The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance. This financial partnership will not only help advance technology, but enhance national competitiveness, security, and economic prosperity."
Bayo Ogunlesi, CEO of Global Infrastructure Partners, said: "There is a clear need to mobilize significant amounts of private capital to fund investments in essential infrastructure. One manifestation of this is the capital required to support the development of AI. We are highly confident that the combined capabilities of our partnership will help accelerate the pace of investments in AI-related infrastructure."
Brad Smith, Microsoft's president, added: "The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance. This financial partnership will not only help advance technology, but enhance national competitiveness, security, and economic prosperity."
Bayo Ogunlesi, CEO of Global Infrastructure Partners, said: "There is a clear need to mobilize significant amounts of private capital to fund investments in essential infrastructure. One manifestation of this is the capital required to support the development of AI. We are highly confident that the combined capabilities of our partnership will help accelerate the pace of investments in AI-related infrastructure."
Why not just throw that money into a volcano? (Score:3)
About as effective and more environmentally friendly.
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About as effective and more environmentally friendly.
With the amount of sheer arrogance and narcissism in the world, I’m beginning to believe no one will quit until the dot bomb looks like a financial fart by comparison.
You call THAT a “Great” Depression? Tell the Insider Trading Congresscritter to hold my Theranos vial..
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Yep, probably. People are getting more and more disconnected. Again.
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Re: Why not just throw that money into a volcano? (Score:2)
I could get behind that idea...
Wow (Score:1)
Just think of all the layoffs!
One pictures a middle-aged man wearing nothing but black socks in a leather-appointed office trembling as he opens a bottle of lotion.
Are they essentially saying... (Score:2)
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...that they're going to build a privatised version of the Five Eyes (NSA, ASIO, GCHQ, CSE, & NZSIS) that can sell their services to whichever governments, regimes, & corporations they like? Because you know that this is what all that hardware's going to end up being used for, right? Who else but governments, especially the various spy & military departments around the world, can spend the kind of money on IT services that would justify all these $10s of billions in investment? "Black-Microsoft Big Brother"? It's a beautiful thing, the effective destruction of democracy & human rights. And of course, that's all doubleplus good, brother. Doubleplusgood!
So, they're offering to upgrade the Five Eyes' infrastructure? It's happening with or without them, so they're probably just wanting to make sure they get their piece of the profit. It sucks, but this is our world. Greed feeds greed. Party on, dudes.
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still in the 2020's can't wait for the corpo wars