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Nvidia and artificial intelligence start-up xAI are to join an AI infrastructure investment project announced last September, as companies rush to build out capacity for deploying compute-hungry generative AI services.
The two companies are to join the AI Infrastructure Partnership (AIP), initially known as the AI Infrastructure Investment Partnership, which changed its name on Wednesday.
The two companies will provide capital for the project along with initial backers BlackRock, Microsoft and United Arab Emirate state-owned investment firm MGX, AIP said.
Heavy investments
Nvidia will also continue in its existing role as technical adviser.
Energy companies [GE Vernova and NextEra Energy have also agreed to collaborate with AIP on providing scalable and diverse energy for AI data centres, which consume notoriously elevated levels of electrical power.
Renewable energy firm GE Vernova is also to work with the project on supply chain planning and making energy provision more efficient.
AIP said it had attracted “significant capital and partner interest” since launch, without providing details.
The group said it was initially looking to secure $30 billion (£23bn) from investors, asset owners and corporations, which it said should in turn make available up to $100bn in total investment potential when including debt financing.
The group said it was looking to work with Nvidia and xAI to build and scale an open-architecture platform supporting a diverse range of partners on a non-exclusive basis.
Its investments are to focus on the US as well as OECD countries and US allies.
AI race
The more recently announced Stargate project, which launched in January with backing from Oracle, SoftBank and OpenAI, has a focus exclusively on the US for building AI data centres.
It plans to invest an initial $100bn in such projects, with up to $500bn over the next four years.
MGX is also an investor in Stargate.
Large tech companies are planning accelerated spending on AI data centres this year, with Microsoft planning on $80bn in capital expenditures and Meta up to $65bn.
