As we know, Microsoft has already invested in OpenAI about $13 billion. It also backs BlackRock. Elon Musks XAI is the rival firm for OpenAI. Both Microsoft and BlackRock are investing in XAI to build $30 billion AI infrastructure. Nvidia is the technical advisor to the group.

Microsoft is increasingly developing AI outside OpenAI partnership. It has created in-house AI models that could compete with OpenAI. Since AI development requires huge capital investment in data centers, the US has taken a stargate initiative. The Microsoft-Backed group will be called AI Infrastructure partnership (AIP). BlackRock’s CEO Larry Fink wants to bring pensions and insurers together for such long-term infrastructure projects.

Microsoft BlackRock tied up in 2024 MGX, a UAE investment vehicle that is also involved in Stargate.

They have tied up with energy companies to accelerate the scaling of the project. By