The Singapore state investment firm Temasek has joined a group backed by Microsoft, BlackRock, and tech investment firm MGX to invest in artificial intelligence infrastructure.
The move was confirmed in presentation slides shared at BlackRock’s investor day on Thursday.
Temasek has become part of the AI Infrastructure Partnership, or AIP, which includes BlackRock’s Global Infrastructure Partners. The group was formed in September with plans to initially invest more than $30 billion in AI-related projects such as data centers and energy facilities in the United States.
It aims to raise up to $100 billion, including debt financing, to support these efforts.
Temasek’s involvement follows the recent entry of the Kuwait Investment Authority into the partnership earlier this month. Kuwait’s sovereign wealth fund was the first non-founder financial anchor investor to join AIP, which also includes partners like Nvidia and Elon Musk’s xAI.
Temasek did not provide financial details of its investment. The company reported a net portfolio value of S$389 billion ($304 billion) as of March 31, 2024.
