According to the Financial Times, article, BlackRock, a major asset management company, is gearing up to launch an over $300 billion artificial intelligence investment fund with tech giant Microsoft. The fund will be used to build data centers and energy projects to meet the growing demand driven by AI.

This financial partnership, initiated by BlackRock and its newly established infrastructure investment arm, Global Infrastructure Partners, will result in one of the largest investment vehicles in Wall Street history. Microsoft and Abu Dhabi-backed investment firm MGX are the general partners of the fund, while fast-growing chipmaker Nvidia will provide consulting on factory design and integration.

This investment vehicle aims to address the staggering power and digital infrastructure needs required to build AI products, which are expected to face severe capacity bottlenecks in the coming years. AI computing power demands far more energy than previous technological innovations, putting strain on existing energy infrastructure.

The initiative, dubbed "Global AI Investment Partnership," seeks to raise up to $300 billion in equity investment and leverage this capital to support up to $700 billion in additional debt financing.

BlackRock emphasizes the energy industry as one of its most significant growth opportunities. Larry Fink, CEO of BlackRock, stated in a release:

"Mobilizing private capital to build AI infrastructure like data centers and power will unlock trillions of dollars in long-term investment opportunities."

Jensen Huang, founder of Nvidia, said in a statement: "Accelerated computing and generative AI are driving the need for AI infrastructure in the next industrial revolution."