Nvidia, X.AI Join BlackRock-Led AI Fund

Published: 2025-03-19 07:25:11 ET BLK

By Adriano Marchese

Nvidia and X.AI are the latest members to join a recently-formed infrastructure megafund that aims to raise $30 billion to invest in AI data centers and related power infrastructure.

BlackRock said Wednesday that chipmaking giant Nvidia and Elon Musk's X.AI, which houses the Grok AI platform, are the latest to sign up the AI Infrastructure Partnership.

BlackRock, through its Global Infrastructure Partners unit, Microsoft and United Arab Emirates state-backed investor MGX first partnered on the new AI infrastructure fund in September of last year.

The aim of the new partnership--first dubbed the Global AI Infrastructure Investment Partnership--is to pool capital from its investors that seek steady, modest returns from private infrastructure investments.

AIP's first milestone is to unlock $30 billion in capital from investors, asset owners, and corporations, and to eventually deploy up to $100 billion in total capital including debt financing, BlackRock said.

Additionally, the partnership has also brought on GE Vernova, General Electric's energy-focused subsidiary, and energy company NextEra Energy to speed up the development of different energy solutions needed for these AI data centers.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

03-19-25 0724ET