Nvidia and Elon Musk’s xAI have joined a Microsoft- and BlackRock-backed consortium to expand artificial intelligence infrastructure in the U.S., the companies announced Wednesday.
The group, originally formed last year, has been renamed AI Infrastructure Partnership (AIP) and plans to invest over $30 billion in AI-related projects, making it one of the largest initiatives to fund data centers and energy facilities essential for AI applications like ChatGPT.
To support computing and energy demands, AIP is raising additional capital from investors, asset owners, and corporations, targeting $100 billion, including debt financing. Investors have already committed $100 billion for immediate deployment, with the rest expected over the next four years.
The consortium includes Abu Dhabi-backed investment firm MGX and BlackRock’s Global Infrastructure Partners, while Nvidia, which previously served as a technical advisor, will continue in that role.
AIP’s announcement follows former U.S. President Donald Trump’s unveiling of Stargate, a separate AI infrastructure initiative backed by SoftBank Group, OpenAI, and Oracle, aiming to mobilize up to $500 billion. The growing push for AI infrastructure comes as companies rush to secure computing power for large-scale data processing, which requires massive energy consumption and specialized data centers.
General Electric’s energy division, GE Vernova, and utility giant NextEra Energy have also joined AIP, with NextEra contributing to supply-chain planning and energy solutions. AIP stated that its investments will primarily focus on U.S. partners and members of the Organization for Economic Cooperation and Development (OECD) but did not disclose the total funds raised so far.
