Nvidia and Chief Executive Officer (CEO) Elon Musk's artificial intelligence (AI) corporations "xAI" will participate in a large-scale AI infrastructure investment fund established by BlackRock, Microsoft (MS), and others.
According to the Financial Times (FT) on the 19th (local time), Nvidia and xAI are set to join the 'AI Infrastructure Partnership' (AIP) established last year by BlackRock, MS, and the Abu Dhabi AI investment fund MGX.
It was explained that they aim to attract a total of $100 billion (approximately 146 trillion won) in investment, including $30 billion (approximately 44 trillion won) in initial funding and liability financing.
AIP was established to address the unprecedented demand for power and digital infrastructure arising from AI product development. In September of last year, BlackRock launched the fund with MS and MGX. Nvidia is already known to have provided technical advice for this fund.
Nvidia CEO Jensen Huang said, "The global development of AI infrastructure will benefit all corporations and countries striving for economic growth and to solve the world's biggest challenges."
This announcement comes two months after the SoftBank and OpenAI's announcement of the "Stargate Project," leading to expectations of competition between the two projects. Previously, CEO Musk publicly criticized the Stargate Project, stating it was unlikely to be feasible and that the investment plans were exaggerated.