MSFT: Microsoft Joins BlackRock, Group of Big-Shot Investors for $100 Billion Fund

Dubbed the Global AI Investment Partnership, the collaboration will include Nvidia and Abu Dhabi-backed investor MGX.

• Microsoft MSFT is determined not only to take the lead in building out the infrastructure layer — it did that when it invested a total of $13 billion into OpenAI, becoming an early backer of the parent of chatbot ChatGPT. Now, it wants to stay in the lead with a massive fund in the works. Together with BlackRock, the world’s biggest asset manager, and United Arab Emirates state-backed investor MGX, Microsoft will be raising up to $100 billion for AI initiatives.
• Technically, BlackRock is the main character. The investment firm is launching its new infrastructure investment wing, Global Infrastructure Partners. The concerted effort that includes the tech bros is dubbed Global AI Investment Partnership. It will be looking to pick up $30 billion in equity investments and boost that figure by another $70 billion in debt financing. Other big-shot participants include more tech bros from Nvidia NVDA — the chipmaker will play a role as an advisor on chip design and integration.
• ”We are committed to ensuring AI helps advance innovation and drives growth across every sector of the economy,” said Microsoft chief executive Satya Nadella. The joint effort brings “together financial and industry leaders to build the infrastructure of the future and power it in a sustainable way,” he added. Microsoft stock remained flat on the news with shares floating up by 0.3% in pre-market trading Wednesday.