The news: Microsoft, BlackRock, and MGX, an Abu Dhabi-based tech investment firm, joined forces to raise $100 billion to develop AI-focused data centers and energy infrastructure.
Through the Global Artificial Intelligence Infrastructure Investment Partnership (GAIIP), the consortium aims to initially raise $30 billion, with a future target of $100 billion, to support the growing demand for AI workloads.
In February, OpenAI CEO Sam Altman proposed a $7 trillion investment in chip development, underscoring the massive capital needed to realize the promise of sustainable AI growth.