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Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure

Economic Times

Economic Times · 2m ago

Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure

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

Economic Times · 5m ago

Musk’s xAI joins Microsoft-BlackRock $30 billion AI fund

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.

OpenAI and SoftBank are starting a $500 billion AI data center company

The Verge

The Verge · 1m ago

OpenAI and SoftBank are starting a $500 billion AI data center company

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.

Donald Trump launches $500B Stargate project to boost AI infrastructure in the US

YourStory

YourStory · 7m ago

Donald Trump launches $500B Stargate project to boost AI infrastructure in the US

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.

Elon Musk reacts to SoftBank-OpenAI’s $500 billion AI project, says ‘they don’t have the money’

Economic Times

Economic Times · 7m ago

Elon Musk reacts to SoftBank-OpenAI’s $500 billion AI project, says ‘they don’t have the money’

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.

Abu Dhabi targets $100 billion AUM for AI investment firm

Economic Times

Economic Times · 1y ago

Abu Dhabi targets $100 billion AUM for AI investment firm

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.

Microsoft and OpenAI 'bromance' begins to fray

Economic Times

Economic Times · 10m ago

Microsoft and OpenAI 'bromance' begins to fray

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.

OpenAI raises $6.6B and is now valued at $157B

TechCrunch · 11m ago

OpenAI raises $6.6B and is now valued at $157B

- 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.

KKR, GIP lead Indo-Pacific infra group to invest $25 bn in India, other countries

VCCircle

VCCircle · 1y ago

KKR, GIP lead Indo-Pacific infra group to invest $25 bn in India, other countries

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.

Mint Explainer: Will the $500 billion Stargate plan help the US trump China?

Livemint

Livemint · 7m ago

Mint Explainer: Will the $500 billion Stargate plan help the US trump China?

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.

BlackRock COO says India’s growth is ‘special’ as Jio BlackRock gears up for big push

Economic Times

Economic Times · 17d ago

BlackRock COO says India’s growth is ‘special’ as Jio BlackRock gears up for big push

Rob Goldstein, BlackRock's COO, emphasizes India's potential and dynamic growth, highlighting the firm's joint venture with Reliance Industries in Jio BlackRock. He is optimistic about India's economic landscape, noting advancements in digitization and infrastructure, with BlackRock managing $100 billion in client capital in India. Goldstein sees opportunities in India's evolving capital markets and demographic trends, as well as leveraging AI-driven strategies for investment in Jio BlackRock AMC's offerings.

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