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The Kuwait Investment Authority will join the AI Infrastructure Partnership (“AIP”), a group formed by MGX, BlackRock’s (NYSE:BLK) Global Infrastructure Partners (“GIP”), and Microsoft (NASDAQ:MSFT) in 2024, the companies said on Tuesday.
KIA is the first non-founder financial anchor to join the partnership, and it reinforces AIP’s global reach and strategic impact as it accelerates investment in next-generation AI infrastructure, the partnership said.
AIP was formed by BlackRock (NYSE:BLK), GIP, MGX, and Microsoft (NASDAQ:MSFT) to invest $30B of equity capital from investors, asset owners, and corporations, with the potential to reach up to $100B when including debt financing.
“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,” said Sheikh Saoud Salem Abdulaziz Al-Sabah, KIA’s managing director.