GE Vernova and NextEra join AI infrastructure project

NEW YORK & REDMOND, Wash. & ABU DHABI, United Arab Emirates & SANTA CLARA, Calif. & SAN FRANCISCO – The AI Infrastructure Partnership (AIP), a collaboration between BlackRock, Global Infrastructure Partners (GIP), Microsoft, and MGX, has announced an expanded partnership with the inclusion of NVIDIA and xAI. The initiative aims to invest in AI infrastructure, with GE Vernova and NextEra Energy coming on board to accelerate energy solutions for AI data centers.

AIP has generated substantial interest since its launch in September 2024, with plans to unlock $30 billion in capital, potentially mobilizing up to $100 billion with debt financing. The focus is on AI-ready data centers and energy infrastructure in the U.S., OECD, and U.S. partner countries, driving AI innovation and economic growth. BlackRock’s participation is backed by its strong market position, with InvestingPro analysis showing the company has maintained dividend payments for 23 consecutive years, demonstrating long-term financial stability.

The partnership emphasizes an open-architecture platform, supporting a diverse range of partners. NVIDIA continues as a technical advisor, contributing its expertise in accelerated computing and AI.

His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of MGX, highlighted the partnership’s aim to foster AI’s responsible and inclusive development. Jensen Huang, CEO of NVIDIA, and Satya Nadella, CEO of Microsoft, both emphasized the critical role of AI infrastructure in driving global economic growth.

Larry Fink, CEO of BlackRock, pointed out the partnership’s unique position in combining technology expertise with private capital to meet AI infrastructure demands. With a P/E ratio of 22.61 and annual revenue of $20.41B, BlackRock brings substantial financial resources to the partnership. Discover more detailed insights about BlackRock’s financial performance in the comprehensive Pro Research Report, available exclusively on InvestingPro. Bayo Ogunlesi, CEO of GIP, expressed pride in the momentum and welcomed the new partners.

John Ketchum, CEO of NextEra Energy, and Scott Strazik, CEO of GE Vernova, both underscored the importance of developing energy infrastructure to support AI advancements.

The press release also contained forward-looking statements cautioning that projections are subject to change. It emphasized that actual results could differ from those anticipated.

This news article is based on a press release statement and does not include any speculative or promotional content.

In other recent news, a consortium led by Allianz is nearing a successful bid to acquire a 25% share in Viridium, Germany’s largest life insurance administrator, in a deal valued at approximately 3.5 billion euros ($3.80 billion). Other members of the consortium include BlackRock, T&D, and Generali. Meanwhile, BlackRock, in collaboration with Global Infrastructure Partners and Terminal Investment Limited, is set to purchase CK Hutchison’s Panama port operations for $22.8 billion, marking a significant move in the infrastructure sector. In another development, Fitch Ratings revised the outlook for BlackRock TCP Capital Corp. to negative from stable, citing increased non-accrual levels and higher realized loss rates. Despite the negative outlook, BlackRock TCP Capital’s ratings remain supported by its affiliation with BlackRock Inc. Additionally, BlackRock has paused engagements with certain portfolio companies due to new SEC guidelines requiring more detailed ESG disclosures. This pause will continue as BlackRock reviews the new rules to ensure compliance. BlackRock’s Chief Executive, Larry Fink, also warned of rising U.S. inflation due to nationalistic policies, highlighting potential economic challenges ahead.

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