BlackRock estimates that trillions are needed for long-term data center and energy resource growth|Americasroof|CC BY-SA 3.0

BlackRock, Microsoft and UAE-backed investor MGX are launching a $30 billion artificial intelligence (AI) infrastructure fund to invest in US data centers and power systems.

The new Global Artificial Intelligence Infrastructure Investment Partnership aims to deploy up to $100 billion, including debt financing, to address AI’s high energy demands. By pooling capital from pension funds and insurance companies, the fund seeks steady returns for long-term investments.

BlackRock estimates trillions are needed for long-term data center and energy resource growth.Researchers predict AI systems could increase US power demand by 8% by 2030.