Nvidia and Elon Musk’s xAI have become members of a consortium backed by Microsoft, investment firm MGX, and BlackRock, aimed at advancing AI infrastructure in the United States, the companies announced on Wednesday. This development comes amid a growing global competition to establish leadership in the rapidly evolving field of artificial intelligence.
The consortium, which was established last year, has set an initial investment target exceeding $30 billion (approximately Rs. 2,58,984 crore) for AI-related initiatives. This initiative represents one of the most significant efforts to finance the data centers and energy facilities essential for powering AI applications like ChatGPT.
This announcement follows two months after former US President Donald Trump revealed Stargate, a private-sector AI infrastructure project supported by SoftBank Group, OpenAI, and Oracle, with ambitions to mobilize up to $500 billion (around Rs. 43,16,626 crore).
Investors have currently pledged $100 billion (approximately Rs. 8,63,500 crore) for immediate utilization, with additional funding anticipated over the next four years.
The consortium, now rebranded as the AI Infrastructure Partnership (AIP), includes BlackRock’s Global Infrastructure Partners. Nvidia will maintain its role as a technical advisor.
The process of training AI models and managing large datasets requires substantial computational power, which, in turn, leads to increased energy consumption. To address these needs, technology firms are clustering thousands of chips, thereby intensifying the demand for specialized data centers.
To support computing and energy requirements, the consortium is actively seeking investments from various stakeholders, including investors, asset owners, and corporations, with the goal of raising up to $100 billion (around Rs. 8,63,500 crore), inclusive of debt financing.
AIP has reported strong capital and partnership interest since its launch in September, although the group has not disclosed the specific amount of funds raised to date.
Also joining the consortium are GE Vernova and utility company NextEra Energy, with the latter focusing on supply-chain planning and energy efficiency solutions.
The AI Infrastructure Partnership emphasized that its investments would predominantly target US partners as well as the Organization for Economic Cooperation and Development.
© Thomson Reuters 2025
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