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$2,962,519,758,909
Market Cap
$110,609,341,992
24h Vol
13105
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Bitcoin Share
CoinDesk 2025-03-19 15:54:17

Elon Musk’s AI Start-Up and Nvidia Join Microsoft, BlackRock, MGX AI Fund

Elon Musk’s AI Start-Up and Nvidia Join Microsoft, BlackRock, MGX AI Fund

Two of the biggest forces in artificial intelligence (AI) — Elon Musk’s xAI and Nvidia — have joined BlackRock, Microsoft and investment fund MGX’s group to expand AI infrastructure across the U.S., the companies announced Wednesday. The fund — called the AI Infrastructure Partnership — at its formation in September of last year, said that it plans to launch with more than $30 billion in initial funding. The goal is to build data centers and energy projects which are required to power large-scale AI models. Nvidia will also serve as a technical advisor for the group, which it had announced last year. Must and Nvidia join the effort two months after U.S. President Donald Trump announced the formation of Stargate, a private venture that plans to build up to 20 large AI data centers in the U.S. in partnership with OpenAI, Oracle and SoftBank. The first data center will be built in Abilene, a small city in Texas, which will be completed by mid-2026, Bloomberg reported yesterday. It will have space for roughly 400,000 of Nvidia’s AI chips and a capacity of 1.2 gigawatts of power.

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