The $1 trillion Kuwait Investment Authority is joining a partnership with BlackRock’s Global Infrastructure Partners, Microsoft and MGX Fund Management Ltd. to deploy billions of dollars for data center infrastructure.
The AI Infrastructure Partnership aims to deploy $30 billion from investors. According to a BlackRock statement, the partnership has the potential to reach up to $100 billion when including debt financing.
The partnership was established in September 2024. It has added Nvidia, xAI and Cisco Systems as partners, and it has also made agreements with GE Vernova and NextEra Energy to accelerate the scaling of energy needed for data centers.
“KIA’s participation in [the AI Infrastructure Partnership] reflects our long-term commitment to investing in transformative global infrastructure that drives innovation and economic progress,” said the KIA’s managing director, Sheikh Saoud Salem Abdulaziz Al-Sabah, in a statement. “We view AI infrastructure as an instrumental driver of future growth, and we are proud to collaborate with leading global partners to accelerate its development at scale.”
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The Kuwait Investment Authority manages the General Reserves Fund, responsible for collecting oil revenues, paying them out to the state budget and investing in the region. The KIA also manages the Future Generations Fund, which makes global investments in various asset classes.
“We are pleased to welcome KIA as a partner in AIP,” said Bayo Ogunlesi, the chairman and CEO of Global Infrastructure Partners, in a statement. “We have a longstanding and deep relationship with KIA and we look forward to working with them and our other partners to position AIP at the forefront of helping to further our joint ambition to enhance AI innovation and economic growth.”
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Tags: AI, AI Infrastructure Partnership, Artificial Intelligence, BlackRock, Global Infrastructure Partners, Kuwait Investment Authority, Microsoft
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