NVIDIA and xAI have joined the AI Infrastructure Partnership (AIP), a BlackRock-led initiative originally launched in September 2024 to accelerate investment in AI-ready data centres and supporting energy infrastructure. The platform, which includes Microsoft, MGX and Global Infrastructure Partners (GIP), is targeting $30 billion in equity commitments and up to $100 billion in total investment, including debt.
The expanded partnership also includes energy players GE Vernova and NextEra Energy, which will collaborate with AIP on scaling power generation and supply chain solutions for data centres. GE Vernova will support supply planning, while NextEra will focus on delivering energy capacity across renewables, gas, battery storage and nuclear generation.
NVIDIA will act as a technical advisor, bringing its expertise in accelerated computing and full-stack AI infrastructure to guide the development of new-generation data centres. xAI, founded by Elon Musk in 2023, will also contribute to platform expansion.
The partnership will focus primarily on infrastructure projects in the US, with additional capital potentially deployed across OECD and US-partner countries. The aim is to meet surging demand for AI computing power, driven by developments in generative AI, cloud computing and high-density data centres.
The US Department of Energy estimates that national data centre load growth has tripled over the past decade, with further doubling or tripling expected by 2028. Research from the International Energy Agency (IEA) forecasts that global power demand from data centres will rise by 50% by 2027.
With this projected demand increase, AIP’s expansion reflects growing investor interest in the convergence of digital infrastructure and energy. The initiative underscores the role of private capital in developing AI-enabling infrastructure and the potential returns from investing in power and compute at scale.
BlackRock and GIP say the partnership offers a unique mix of technology, capital and infrastructure capability to build out next-generation AI data centres and associated power generation assets. MGX, the Abu Dhabi-based investment platform chaired by HH Sheikh Tahnoon bin Zayed Al Nahyan, is backing the project as part of its broader strategy in AI and critical infrastructure.
