MGX joins BlackRock, GIP and Microsoft to invest in AI
MGX, a joint venture between Mubadala and G42, BlackRock, Global Infrastructure Partners (GIP), and Microsoft, have announced the Global AI Infrastructure Investment Partnership (GAIIP), which aims to invest in new and expanded data centers to meet the growing demand for computing power.
H.H. Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of MGX, emphasized the importance of AI for the future of economies. This partnership will support an open architecture and broad ecosystem, providing full access on a non-exclusive basis for a diverse range of partners and companies. NVIDIA will support GAIIP, offering its expertise in AI data centers and AI factories to benefit the AI ecosystem.
Partnership Details
Through this unique partnership, faster innovation, technological breakthroughs, and transformational productivity gains across the global economy are expected. The investments made will secure a more sustainable, prosperous, and equitable future for all mankind.
GAIIP will engage with industry leaders to enhance AI supply chains and energy sourcing for the benefit of its customers and the industry. The partnership aims to unlock $30 billion of private equity capital over time, which in turn will mobilize up to $100 billion in total investment potential, including debt financing.
Leaders' Insights
Larry Fink, Chairman and CEO of BlackRock, stated that mobilizing private capital to build AI infrastructure, like data centers and power, will unlock a multi-trillion-dollar long-term investment opportunity. Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation.
Satya Nadella, Chairman and CEO of Microsoft, said that they are committed to ensuring AI helps advance innovation and drives growth across every sector of the economy. The Global AI Infrastructure Investment Partnership will help deliver on this vision, bringing together financial and industry leaders to build the infrastructure of the future and power it in a sustainable way.
Ahmed Yahia Al Idrissi, CEO of MGX, remarked that building the necessary infrastructure required to advance and accelerate the adoption of AI will reshape and revitalize almost every aspect of how we live. New data centers and power sources will enable growth and commerce in the future innovation economy.
Bayo Ogunlesi, Chairman and CEO of Global Infrastructure Partners, commented that there is a clear need to mobilize significant private capital to fund investments in essential infrastructure, including AI development. The combined capabilities of the partnership will help accelerate the pace of investments in AI-related infrastructure.
About MGX
MGX was created in Abu Dhabi earlier this year to invest in AI and advanced technologies with global partners to enable the technology fabric of the global economy, focusing on AI infrastructure, AI-enabled technology, and semiconductors.
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