Investment company BlackRock and technology giant Microsoft plan to launch a fund worth over USD 30 billion to invest in the development of infrastructure related to artificial intelligence (AI) technologies, including the construction of data centers and energy projects, announced the AG. Reuters.
The fund will be called the Global AI Infrastructure Investment Partnership and will be set up to “improve AI supply chains and power projects”. Behind the decision to create such an investment tool are the characteristics of modern AI models used to process large volumes of data: their work often requires significant computing power, which leads to increased energy consumption.
According to Reuters, the general partner of the fund will be the investment company MGX from the UAE, and chip manufacturer Nvidia will participate in its creation. The total investment potential of the fund is estimated at USD 100 billion.
On September 4, Nvidia shares on the NASDAQ stock exchange fell 9.5% on the day, reducing its capitalization by a record $278.9 billion, according to agency Bloomberg amid a decline in the level of investor confidence in the overheated market of companies engaged in the development of AI. According to BlackRock Investment CEO Jean Boueven, “patience is needed” before AI begins to deliver the benefits investors expect, a process that “will take years, not quarters”.