Nvidia and Elon Musk’s xAI are now part of the AI Infrastructure Partnership (AIP), a consortium supported by Microsoft and BlackRock, according to a Wednesday announcement. This collaboration signifies a major move in the ongoing global competition to advance artificial intelligence.
The AIP, initially formed last year with an ambitious goal to invest over $30 billion in AI-related projects, is one of the largest initiatives dedicated to funding the data centers and energy infrastructure essential for powering AI applications such as ChatGPT. The group’s plans include significant investments in the U.S. and other partners within the Organization for Economic Cooperation and Development (OECD).
These new additions to the partnership come two months after former U.S. President Donald Trump unveiled the Stargate initiative, a private-sector AI infrastructure plan supported by SoftBank Group, OpenAI, and Oracle, intending to mobilize up to $500 billion. Investors have already committed $100 billion for immediate deployment, with more expected in the coming years.
The AIP, formerly called the AI Infrastructure Partnership, also includes MGX, an investment firm backed by Abu Dhabi, and BlackRock’s Global Infrastructure Partners. Nvidia, a technical advisor, will continue in that role.
The increasing demands of training AI models and large-scale data processing require vast computational resources, significantly increasing energy consumption. To address this, tech companies are deploying thousands of chips in data center clusters, leading to a surge in demand for specialized data center facilities.
The consortium is actively seeking to raise funds from various sources, including investors, asset owners, and corporations, with the target of mobilizing up to $100 billion, including debt financing. “AIP has attracted significant capital and partner interest since its inception in September,” the group stated, without disclosing the total amount of funds raised.
GE Vernova and NextEra Energy will also join the group. NextEra Energy, a renewable energy company, will work on supply-chain planning and high-efficiency energy solutions to support the initiative. The AIP’s investments will concentrate on U.S. partners and the OECD.
