BlackRock and Microsoft have announced a $30 billion investment fund aimed at developing data centers for artificial intelligence (AI), addressing the increasing demand for extensive computing power and energy.
The fund seeks to raise $30 billion in equity through BlackRock’s Global Infrastructure Partners (GIP) and plans to leverage an additional $70 billion in debt financing. Microsoft, along with Abu Dhabi’s MGX and chipmaker Nvidia, will lead the project, ensuring that the new facilities meet the high computational needs of generative AI tools.
Alleviating Energy Demands for AI Development
As AI technologies like OpenAI's ChatGPT strain existing digital infrastructure, the fund aims to alleviate the bottleneck created by substantial energy requirements. This situation offers opportunities for various stakeholders, including Nvidia and Bitcoin miners.
For example, Core Scientific signed a $3.5 billion contract with Nvidia-backed CoreWeave to upgrade its facilities for AI tasks, while Hut 8 secured a $150 million investment to expand into the AI data center market.
VanEck's research indicates that Bitcoin miners are well-positioned to meet AI's energy needs. The report highlights that miners could generate an additional $13.9 billion annually by dedicating just 20% of their energy resources to AI, potentially doubling their market capitalization as demand for AI computing power grows.
Bottom Line: The $30 billion fund by BlackRock and Microsoft aims to boost AI computing power and energy infrastructure, opening growth opportunities for sectors like Bitcoin mining as AI and energy markets converge.
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