Microsoft and BlackRock are leading a $100 billion initiative to develop AI data centers and their energy infrastructure through the Global Artificial Intelligence Infrastructure Investment Partnership (GAIIP).

The group, which also includes Global Infrastructure Partners (GIP) and UAE-based tech investor MGX, aims to raise $30 billion initially and up to $100 billion in total.

The investment will support the expansion of data centers equipped with Nvidia GPUs essential for AI models like OpenAI’s ChatGPT, CNBC has reported.

Microsoft’s spending on infrastructure is significant, including a recent $19 billion in capital expenditures for its Azure cloud services.

BlackRock’s acquisition of GIP is set to complete on October 1.

Written by B.C. Begley