Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure
SINGAPORE, June 12 (Reuters) - Temasek has joined a consortium backed by Microsoft (MSFT.O), opens new tab, BlackRock (BLK.N), opens new tab and tech investment company MGX to invest and expand artificial intelligence infrastructure, according to BlackRock's investor day presentation slides on Thursday.
The Singapore state investment company has joined AI Infrastructure Partnership, a group that also includes BlackRock's Global Infrastructure Partners, the slides showed.
AIP, formed in September with a goal to initially invest more than $30 billion in AI-related projects, is one of the world's largest efforts to invest in data centres and energy facilities needed to power AI applications such as ChatGPT.
It aims to mobilise up to $100 billion including debt financing for such investments, which will focus on the United States.
Temasek's participation comes after the Kuwait Investment Authority joined AIP earlier in June.
The sovereign wealth fund of Kuwait was the first non-founder financial anchor investor to join the consortium, which also counts partners including Nvidia (NVDA.O), opens new tab and billionaire Elon Musk's xAI.
"Temasek's investment in the AI Infrastructure Partnership reflects our focus on the big shifts and trends of the future," Ravi Lambah, Temasek's head of strategic initiatives, said in an email to Reuters.
"AI is potentially the most transformative and impactful technology for all sectors and businesses," he added.
Temasek did not disclose financial details of the investment. The global investment company had a net portfolio value of S$389 billion ($304 billion) as of March 31, 2024, according to its website.
($1 = 1.2804 Singapore dollars)
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