Elon Musk's xAI and AI chip leader Nvidia will collaborate with BlackRock, Microsoft, and Abu Dhabi-supported investment firm MGX to develop infrastructure for artificial intelligence. The requirements of deep learning and large-scale data processing demand substantial computational power, leading to increased energy consumption. To address this, tech companies are utilizing numerous chips in clusters, resulting in a rising need for specialized data centers.

The partnership, originally known as the Global AI Infrastructure Investment Partnership announced last year, will be rebranded as the AI Infrastructure Partnership. It aims to initially secure $30 billion from investors, asset owners, and corporations, with the potential to attract up to $100 billion in total investment, including debt financing.