Microsoft, BlackRock form GAIIP to invest in AI data centers, energy [Video]

Microsoft and BlackRock are part of a group of companies collaborating to pull together up to $100 billion to develop data centers for artificial intelligence and the energy infrastructure to power them.

The companies are part of the Global Artificial Intelligence Infrastructure Investment Partnership, or GAIIP, which was announced in a press release on Tuesday. The other participants are Global Infrastructure Partners, or GIP, an infrastructure investor that is being acquired by BlackRock, and MGX, a tech investor in the United Arab Emirates.

“We are committed to ensuring AI helps advance innovation and drives growth across every sector of the economy,” said Microsoft CEO Satya Nadella, in a statement. He said the initiative brings “together financial and industry leaders to build the infrastructure of the future and power it in a sustainable way.”

The group aims to assemble $30 billion of initial capital, with a future goal of bringing in up to …