MGX, Microsoft, BlackRock and GIP Launch AI Fund

MGX, an artificial intelligence (AI) and advanced technology investor based in Abu Dhabi, along with Global investors BlackRock, Global Infrastructure Partners (GIP) and Microsoft launched a new AI investment vehicle (GAIIP), with plans to invest in data centres and support power infrastructure.

MGX was launched earlier this year to invest in AI and advanced technologies with global partners to enable the technology fabric of the global economy, focusing on AI infrastructure; AI-enabled technology; and semiconductors.

GAIIP will actively engage with industry leaders to help enhance AI supply chains and energy sourcing for the benefit of its customers and the industry.

The partnership will initially seek to unlock $30 billion of private equity capital over time from investors, asset owners, and corporates, which in turn will mobilise up to $100 billion in total investment potential when including debt financing.

This partnership will invest in new and expanded data centres to meet growing demand for computing power, as well as energy infrastructure to create new sources of power for these facilities.

These infrastructure investments will be mainly in the US fuelling AI innovation and economic growth, and the remainder will be invested in the US partner countries.

This partnership will support an open architecture and broad ecosystem, providing full access on a non-exclusive basis for a diverse range of partners and companies. NVIDIA will support GAIIP, offering its expertise in AI data centres and AI factories to benefit the AI ecosystem.

GAIIP combines deep understanding of infrastructure and technology to drive efficient scaling of data centres, with energy, power, and decarbonisation investment capabilities for related enabling infrastructure for AI.

AI Is Future

MGX Chairman H H Sheikh Tahnoon bin Zayed Al Nahyan emphasised the importance of AI for the future of our economies and AI is not just an industry of the future but underpins the future. “Through this unique partnership, we will enable faster innovation, technological breakthroughs and transformational productivity gains across the global economy. The investments we make today will secure a more sustainable, prosperous and equitable future for all mankind,” he said.

BlackRock Chairman and CEO Larry Fink said that mobilsing private capital to build AI infrastructure like data centres and power will unlock a multi-trillion-dollar long-term investment opportunity as data centres are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation.

Microsoft Chairman and CEO Satya Nadella said that they were committed to ensure AI help advance innovation and drive growth across every sector of the economy.

“GAIIP will help us deliver on this vision, as we bring together financial and industry leaders to build the infrastructure of the future and power it in a sustainable way,” he added.

MGX CEO Ahmed Yahia Al Idrissi too said that building the necessary infrastructure required to advance and accelerate the adoption of AI will reshape and revitalize almost every aspect of how we live.

“Similar to our transportation infrastructure, new data centres and power sources will enable growth and commerce in the future innovation economy,” he added.

BlackRock has a broad network of corporate relationships as a long-term investor in their debt and equity, and GIP specialises in investing in, owning, and operating some of the largest and most complex infrastructure assets in the world.