Nvidia (NVDA, Financial) and xAI, Elon Musk's artificial intelligence company, have joined the AI Infrastructure Partnership, an initiative focused on building AI-driven data centers and the energy resources needed to power them.
Announced in September 2024, the partnership aims to secure an initial $30 billion in investments, with the potential to reach $100 billion when factoring in debt financing. Nvidia and xAI join BlackRock (BLK, Financial), Microsoft (MSFT, Financial), and MGX in the effort.
Nvidia CEO Jensen Huang said AI infrastructure will drive economic growth globally, noting that Nvidia's full-stack AI technology will help industries accelerate innovation. BlackRock CEO Larry Fink emphasized the project's role in meeting AI's rising infrastructure demands while creating investment opportunities.
Energy firms GE Vernova (GEV, Financial) and NextEra Energy (NEE, Financial) are also involved, with GE Vernova CEO Scott Strazik highlighting a diverse energy strategy, including gas, nuclear, and renewables, to meet increasing demand.
Additionally, BlackRock's Global Infrastructure Partners (GIP) is backing the project, and its CEO Bayo Ogunlesi recently joined OpenAI's board.
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