BlackRock Inc. has successfully raised $12.5 billion for its "Global AI Infrastructure Investment Partnership" with Microsoft Corp., marking a significant step toward its total equity goal of $30 billion. The partnership, which also includes Nvidia Corp., Elon Musk's xAI, and the Abu Dhabi-backed investment group MGX, aims to address the critical "energy bottleneck" threatening AI development by investing in data centers and the power grids needed to sustain them.
During a fourth-quarter earnings call, BlackRock CEO Larry Fink explained that mobilizing private capital is essential to meet the soaring demand for AI infrastructure, as costs are too high for any single entity to bear alone. The consortium plans to use debt financing to amplify its equity, potentially scaling total investments to $100 billion. This capital will primarily be deployed in the United States, with some allocation to U.S. partner countries.
The initiative focuses on building hyperscale data centers and securing reliable, clean energy sources. Industry experts estimate data centers could consume up to 4% of global energy by 2029. In a related move, Microsoft recently signed a 20-year deal with Constellation Energy to restart a nuclear reactor at Three Mile Island, Pennsylvania, to power its data centers with carbon-free electricity.
The announcement was met with strong market approval, with BlackRock's stock (BLK) surging nearly 6%. The rally reflects investor confidence in BlackRock's strategic pivot to become a core financier of next-generation digital and energy infrastructure. The firm's total assets under management reached a record $14 trillion in 2025, bolstered by net inflows of nearly $700 billion.
