CandleFocus BlackRock, Microsoft Launch $30 Billion Fund to Build AI Data Centers for High Energy Needs
2024-09-18
Author: Content Editor
BlackRock and Microsoft have joined forces to establish a $30 billion investment fund dedicated to AI data centers. The fund aims to raise equity investments through BlackRock's infrastructure unit, GIP, and leverage an additional $70 billion in debt financing. Microsoft, Abu Dhabi’s MGX, and chipmaker Nvidia will lead the project and ensure the data centers incorporate the latest technologies for efficient AI operations. The growing demand for AI technology has created a bottleneck in building necessary infrastructure and has attracted the attention of GPU manufacturers like Nvidia and Bitcoin miners. Bitcoin miners are in a unique position to meet AI's energy demands and could see increased profitability by allocating a portion of their energy capacity to AI and HPC tasks. VanEck estimates that miners could generate an additional $13.9 billion in profits annually by directing 20% of their energy resources toward AI infrastructure.
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