Will be the first non-founder financial anchor for the partnership
Sovereign wealth fund, the Kuwait Investment Authority, is joining Microsoft and BlackRock’s $30 billion fund for developing AI data center infrastructure.
As reported by Bloomberg, the Kuwait Investment Authority will be the first non-founding financial anchor of the partnership. No financial details of the wealth fund’s contribution have been disclosed.
The “AI Infrastructure Partnership” (AIP) was founded in September last year by BlackRock, with participation from Microsoft and Abu Dhabi-backed investment company MGX. It aims to fund data centers and energy projects, with a goal of raising up to $30bn in equity investments – alongside some $70bn in debt financing.
In March of this year, Nvidia and xAI joined the AIP. Nvidia previously held an advisory role for the fund, which it will continue. Similarly, the terms of any investment from the two companies were not shared.
The consortium is also working with NextEra Energy and GE Vernova Inc., which have previously agreed to collaborate with AIP to “accelerate the scaling” of energy solutions for AI data centers. GE Vernova will also work with AIP and its partners on supply chain planning and delivering "innovative and high-efficiency energy solutions."
The KIA is the second-largest sovereign fund in the Middle East, with $1 trillion to play with. The fund has previously invested in ports, airports, and power distribution networks. The investment in AIP is the Kuwait Investment Authority’s first move into AI under its new managing director, Sheikh Saoud Salem Al-Sabah.
Last month, Saudi Arabia’s sovereign wealth fund launched AI venture Humain, through which it plans to develop up to 500MW of data centers in the Gulf in partnership with Nvidia.
