"BlackRock and Microsoft Partner on $30 Billion AI Infrastructure Fund"

" BlackRock and Microsoft Partner on $30 Billion AI Infrastructure Fund \r\nAs we have been writing for the better part of the last year, the next AI trade continues to look like it's going to be energy. And now, both BlackRock and Microsoft are making it known that they understand this, too.\r\n\r\nYesterday it was reported that the two industry giants are prepping the launch of a $30 billion AI investment fund that'll see Microsoft build data centers and energy projects to meet the demands of AI,\u00a0 according to the Financial Times .\r\n\r\nBlackRock\u2019s new infrastructure investment unit, Global Infrastructure Partners, is launching a major investment fund with Microsoft and Abu Dhabi\u2019s MGX as general partners. Nvidia will provide advisory on factory design and integration.\r\n\r\nThe\u00a0 FT wrote \u00a0that the partnership aims to tackle the massive power and infrastructure needs of AI development, which is expected to strain current energy systems. AI\u2019s computing demands far exceed past technologies.\r\n\r\nThe partnership seeks to raise up to $30bn in equity, with plans to leverage an additional $70bn in debt.\r\n\r\nIn a statement, Larry Fink said: \u201cMobilizing private capital to build AI infrastructure like data centers and power will unlock a multitrillion-dollar long-term investment opportunity.\u201d\r\n\r\nBrad Smith, Microsoft\u2019s president, added:\u00a0\u201cThe country and the world are going to need more capital investment to accelerate the development of the AI infrastructure needed. This kind of effort is an important step.\u201d\r\n\r\nJensen Huang of Nvidia added:\u00a0\u201cAccelerated computing and generative AI are driving a growing need for AI infrastructure for the next industrial revolution.\u201d\r\n\r\nThe upcoming fund is the latest by a major asset manager to address the rising energy needs of generative AI and cloud computing. Earlier this year, Microsoft committed $10bn to renewable energy projects with Brookfield Asset Management and aims for 100% zero-carbon energy by 2030, the\u00a0 Financial Times concluded .\r\n\r\nThe International Energy Agency predicts global electricity consumption by data centers could exceed 1,000 terawatt-hours by 2026, more than double the 2022 level.\r\n\r\nIn the U.S., which houses a third of the world\u2019s data centers, electricity demand is surging for the first time in 20 years. A report from Grid Strategies shows five-year electricity demand projections in the U.S. have nearly doubled, from 2.6% to 4.7%.\r\n\r\nFor those who missed it, in our note\u00a0 \"The Next AI Trade \" from April of this year, we outlined various investment opportunities for\u00a0 powering up America,\u00a0 most of which have dramatically outperformed the market.\r\n\r\nA favorite name of ours has been the Sam Altman-backed Oklo, which we have highlighted as the potential solution to the extreme forthcoming demands in energy as a result of artificial intelligence. It makes nuclear power plants, ranging from 15 MWe to 50 MWe, utilizing liquid metal reactor technology, in soon-to-be everywhere small modular reactors."

"BlackRock and Microsoft Partner on $30 Billion AI Infrastructure Fund"

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