Software company Microsoft and asset manager BlackRock are planning to launch an artificial intelligence investment fund worth more than $30 billion. The fund’s capital would flow into the construction of data centers and energy projects that would meet the growing demand for AI, the fund said.
MGX, the Abu Dhabi-based investment firm, will act as a partner, while AI chipmaker Nvidia will lend its expertise. The companies said on Tuesday that the partnership will generate up to $100 billion in total investment potential, including debt financing. Investments would be made primarily in the US, with the remainder in partner countries.
AI models, especially those used for deep learning and large data processing, require significant computing power, which in turn requires higher energy consumption.
The computing needs of AI have driven technology companies to string together thousands of chips in clusters to achieve the required data processing power, greatly increasing the demand for these specialized data centers.
There is no end in sight to the rapid growth of artificial intelligence, according to a study. Global sales of the technology are set to more than double to $1.27 trillion by 2028, according to research published Tuesday by consulting firm Sopra Steria.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
