BlackRock is set to launch a $30 billion+ investment fund to develop artificial intelligence infrastructure with Microsoft. This was reported by Financial Times.
Major investors are joining forces to finance the energy and digital infrastructure needed to implement artificial intelligence (AI) technologies. We’re talking about a new fund called the Global Artificial Intelligence Investment Partnership, which plans to raise $30 billion through equity investments and an additional $70 billion through debt financing.
As BlackRock CEO Larry Fink has noted, mobilizing private capital to build AI infrastructure like data centers and energy facilities opens up trillions of dollars in long-term investment opportunities.
Experts from the International Energy Agency have highlighted the rapid growth in energy consumption of data centers. They estimate that global electricity consumption of these facilities could exceed 1,000 terawatt-hours by 2026, more than double the 2022 figure.
The day before BHP stated On a possible copper shortage due to the rapid growth of AI. Demand for the metal is predicted to increase by 72% to 52.5 million tonnes by 2050, and data centres could consume up to 7% of all copper, further exacerbating clean energy shortages.
Russian IT companies I promised teach small and medium-sized businesses to work with artificial intelligence.