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Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure
Economic Times
·
1m ago
Medial
Temasek has joined a consortium including Microsoft, BlackRock, and MGX to develop AI infrastructure. This group, the AI Infrastructure Partnership, plans to invest over $30 billion initially in data centers and energy facilities for AI applications and aims to mobilize up to $100 billion. Formed in September, it focuses on investments in the U.S. Temasek's involvement aligns with its focus on future technology trends. Other members include Nvidia and Elon Musk's xAI.
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Musk’s xAI joins Microsoft-BlackRock $30 billion AI fund
Economic Times
·
4m ago
Medial
Microsoft, BlackRock, and Elon Musk's xAI have united to develop $30 billion worth of AI infrastructure, including data centers. This collaboration, named the AI Infrastructure Partnership (AIP), seeks to bolster AI capabilities, integrating support from Nvidia and aiming to fund significant energy projects. Encouraged by rising AI demand, this consortium plans additional investment from pensions and insurers, aiming to capitalize on growing energy needs as substantial AI data centers continue to proliferate globally.
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OpenAI and SoftBank are starting a $500 billion AI data center company
The Verge
·
13d ago
Medial
OpenAI and SoftBank are launching a $500 billion initiative called The Stargate Project to develop AI data centers. The project commences in Texas with contributions from Oracle, MGX, Microsoft, Nvidia, and Arm. Initial investments by SoftBank, OpenAI, and Oracle focus on building AI infrastructure in the U.S. Microsoft maintains a continuing partnership with OpenAI, supporting its Azure platform, with the right of first refusal on new capacity developments.
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Donald Trump launches $500B Stargate project to boost AI infrastructure in the US
YourStory
·
6m ago
Medial
US President Donald Trump announced the launch of 'Stargate,' a $500 billion joint venture by OpenAI and SoftBank, to boost AI infrastructure in the US. The initiative, initially funded by SoftBank, OpenAI, Oracle, and MGX, aims to create over 100,000 jobs and secure US leadership in AI. Key technology partners include Oracle, NVIDIA, and Microsoft. The project includes constructing data centers across the country, supporting AI model training, and enhancing national security.
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Elon Musk reacts to SoftBank-OpenAI’s $500 billion AI project, says ‘they don’t have the money’
Economic Times
·
6m ago
Medial
Elon Musk commented on OpenAI and SoftBank’s $500 billion 'The Stargate Project,' suggesting they lack the necessary funds. The project aims to build AI infrastructure in the US with Masayoshi Son as chairman and SoftBank and OpenAI as lead partners. While SoftBank manages finances, OpenAI oversees operations. Oracle, MGX, Arm, Microsoft, Nvidia, and Oracle are involved as investors and technology partners. Construction has started in Texas, leveraging Azure and Nvidia for AGI research.
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Abu Dhabi targets $100 billion AUM for AI investment firm
Economic Times
·
1y ago
Medial
Abu Dhabi is establishing a technology investment firm called MGX, led by Mubadala Investment Co. and G42, targeting deals in AI and semiconductors. The company plans to manage over $100 billion in assets in the coming years. MGX will pursue partnerships in AI infrastructure, semiconductors, and AI core technologies and applications. The firm will be chaired by UAE National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, with Mubadala CEO Khaldoon Al Mubarak as vice chairman. G42 has been involved in AI initiatives and partnerships, including collaboration with OpenAI.
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Microsoft and OpenAI 'bromance' begins to fray
Economic Times
·
9m ago
Medial
Financial pressure, concerns about stability, and disagreements between employees have strained the partnership between Microsoft and OpenAI. OpenAI, which expects to lose $5 billion this year, has been seeking more funding and computing power from Microsoft, but the company has become hesitant due to the instability at OpenAI and worries about dependency. Microsoft has started hedging its bet on OpenAI by investing in an OpenAI competitor and seeking to develop alternative technologies. OpenAI has also been searching for new investors, including Apple, Nvidia, and MGX. The recent changes to the partnership will help OpenAI secure additional computing resources and reduce costs.
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KKR, GIP lead Indo-Pacific infra group to invest $25 bn in India, other countries
VCCircle
·
1y ago
Medial
Private equity firms KKR and Global Infrastructure Partners (GIP) have partnered with the Indo-Pacific Partnership for Prosperity to invest $25 billion in infrastructure projects across the Indo-Pacific region. The investment will include green data centres in Indonesia, renewable energy initiatives in the Philippines, and hybrid renewables and smart meters in India. The coalition, which includes global investors such as BlackRock, GIC, Rockefeller Foundation, and Temasek, aims to support successful infrastructure projects in the energy, transportation, water and waste, and digital sectors. The Indo-Pacific Economic Framework has already identified over $23 billion worth of investment opportunities.
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OpenAI raises $6.6B and is now valued at $157B
TechCrunch
·
10m ago
Medial
- OpenAI has recently closed the largest VC round, raising $6.6 billion in funding. - The funding values OpenAI at $157 billion post-money, making it the world's best-funded AI startup. - Investors in the funding round include Thrive Capital, Microsoft, Nvidia, SoftBank, Khosla Ventures, Altimeter Capital, Fidelity, and MGX. - OpenAI plans to utilize the funds to further invest in frontier AI research, increase compute capacity, and develop tools to assist in solving complex problems. - The company has requested investors to avoid supporting rival startups Anthropic and xAI. - OpenAI projects its revenue to reach $100 billion in 2029 and faces competition from other AI startups and tech giants such as Google, Amazon, and Meta.
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Mint Explainer: Will the $500 billion Stargate plan help the US trump China?
Livemint
·
6m ago
Medial
The Stargate Project, announced by US President Donald Trump, is a $500 billion venture focusing on AI data centres across the US. The initiative, involving OpenAI, Oracle, SoftBank, and MGX, aims to strengthen the US's AI infrastructure and create 100,000 jobs to compete with China's growing AI prowess. The project underscores the geopolitical tensions influencing global tech strategies, as both the US and China vie for AI dominance and technological advancements.
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Singapore's Temasek in talks to invest in OpenAI: report
Economic Times
·
1y ago
Medial
Singapore's Temasek Holdings is reportedly in talks to invest in OpenAI, the artificial intelligence company backed by Microsoft. Executives from Temasek have met with OpenAI's CEO multiple times in recent months. OpenAI has gained attention and investment after the launch of its ChatGPT technology. Temasek, an active investor in the tech sector, currently has a portfolio valued at around $284.21 billion. AI startups attracted significant investment last year, driven by the growing interest in AI technology. OpenAI is exploring raising funds for its AI chip factories.
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