Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure
has joined a consortium backed by
Microsoft
, BlackRock 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 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
31 minutes ago
- Time of India
Can ChatGPT help you get out of debt? What experts and users say about AI chatbots' financial advice
AI chatbot for financial advice : Artificial intelligence tools such as OpenAI's ChatGPT have become a go-to resource for individuals who need assistance with personal finances, as per a report. From managing budgets to retirement planning, many are looking to AI to provide guidance, however, while AI can provide speedy solutions, experts warn that it cannot substitute for personalised assistance from financial planners, according to a USA Today report. AI Tools Are Changing How People Manage Their Personal Finances One person who has found real value in AI's support is Jennifer Allen, a realtor who depends on ChatGPT for, among other things, overseeing grocery lists and creating a website for her practice, as per the report. When unexpected hospital bills and time away from work after giving birth led her to depend on credit cards, Allen's debt quietly grew and she was scared to tally the total amount, as reported by USA Today. However, one day, she thought of asking ChatGPT to help, and then fed the AI chatbot the required information and it told her she had amassed $23,000 in debt, according to the report. Allen was shocked by the number, and did not know how she could pay it off and said that she didn't even consider consulting a financial planner, however, she ended up asking ChatGPT, as per the USA Today report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why is everyone rushing to get their hands on this new air cooler? News of the Discovery Undo Allen revealed that, 'Even if a financial planner told me something, I would still go to Chat to run it by them,' as quoted in the USA Today report. She then asked ChatGPT how she could pay it off, and the AI provided her with a single small task to do each day, which Allen did and also documenting her progress in two 30-day challenges on the social media platform TikTok, according to the report. Live Events By taking ChatGPT's suggestion and leveraging the Creator Rewards Program on TikTok, Allen was able to raise $13,078, reducing her debt to almost $5,000, as per the USA Today report. ALSO READ: Trump backs away from Russia-Ukraine peace talks, sources say — what's really behind the sudden pause? Millions of Americans Now Use AI Every Day ChatGPT is not the only AI platform humans are using to answer their queries, according to the report. A Morning Consult survey discovered that over half of American adults look to AI-generated summaries when they are searching online, and one out of ten are reliant on AI alone and don't check other places, as per the USA Today report. Another study by Southeastern Oklahoma State University found that 1 in 3 Americans have used an AI tool to make a career decision, according to the report. OpenAI's Nick Turley said that ChatGPT has rapidly grown, reaching about 700 million users weekly, which is four times more than last year, as reported by USA Today. ALSO READ: Trump demands release of ex-Colorado clerk Tina Peters jailed for election breach — warns of harsh measures Tech Companies Admit AI Chatbots Can Make Financial Mistakes While some people believe AI could completely change how we approach financial planning, making advice more accessible to everyone, as per the USA Today report. But others caution against putting too much trust in these tools when it comes to managing money and even the companies behind popular chatbots urge users to be careful, according to the report. Google warned that large language models, like Gemini, can "hallucinate" and present inaccurate information as factual, and the tech company's help center highlighted that people should not rely on Gemini for financial advice, as per the USA Today report. While a spokesperson for Anthropic, maker of Claude, explained that while Claude can help people become more informed, it should not replace licensed professionals for personalized financial decisions, according to the report. The Anthropic spokesperson said, 'The most successful approach we see is people using Claude to level up their financial literacy, then taking that knowledge into real-world decisions,' as quoted in the USA Today report. Even a spokesperson for Microsoft said about tools like Copilot that 'AI can still make mistakes, so we always recommend people check sources and reach out to a financial adviser if needed,' as quoted in the report. ALSO READ: Shocking twist: Computer Science grads face one of the highest unemployment rates today Financial Planners vs. Chatbots: What Experts Say A money expert who founded Her First 100k, Tori Dunlap pointed out that AI chatbotsare 'There as your digital robotic personal assistant. It's not meant to challenge you or push back, or help you think differently. That's something a coach or expert can you help you do,' adding, 'I would also say though, if you're going to go from no financial advice to ChatGPT, I will take ChatGPT every time,' as quoted by USA Today. FAQs Can AI replace a human financial planner? No, AI can't fully replace the personalised and emotional understanding a human advisor provides, as per the USA Today report. Should I use AI for my finances? No, use AI as a helping tool, but always consult professionals for personalised advice, as per the USA Today report.
India Today
33 minutes ago
- India Today
88% students turn to AI tools like ChatGPT to manage stress: Study
At least 88 per cent of school students now turn to Artificial Intelligence (AI) when they feel stressed or anxious. A new survey says the emotional reliance is highest among teenagers, especially those in the 13-18 age findings go deeper. Fifty-seven per cent of young Indians admitted they use AI for emotional support, confiding in it when they feel lonely, anxious, or in need of survey, titled Are You There, AI?, was conducted by Youth Ki Awaaz (YKA) in partnership with Youth Leaders for Active Citizenship (YLAC). Responses were collected in June 2025 from 506 participants across India, using a digital-first approach. The web survey reached young people through social media, education networks, and youth organisations, drawing insights from the 13–35 age group. Its purpose was to capture how Indian youth are engaging with AI, not just as a tool for productivity but increasingly as a companion in moments of RELIANCE ON AI FOR EMOTIONAL SUPPORTThe findings show that 57 per cent of young Indians actively use AI for emotional support, whether for advice, casual conversations, or expressing thoughts they would not share with trend is strongest among teenagers, especially in the 13-18 age emerged as the most preferred AI platform for these interactions, ahead of other tools like Google's Gemini or The survey noted a clear gender divide: 52 per cent of young women reported sharing personal thoughts with AI, compared to about half that figure among young smaller towns, reliance on AI for emotional expression was even more pronounced. Around 43 per cent of respondents from non-metro cities admitted using AI to confide in, outpacing their metropolitan OVER ISOLATION AND PRIVACYThe study also recorded strong caution among young users. About 67 per cent of respondents said they were worried about AI deepening social isolation, while 58 per cent expressed concerns over privacy and the misuse of personal tension, between heavy reliance and growing distrust, was described by the survey authors as the defining feature of youth-AI report argued that AI is not replacing human emotional support but filling gaps that remain unaddressed by families, friends, and described the phenomenon as young Indians building 'a new emotional geography,' where AI becomes a safe space for thoughts that may feel out of place in personal circles.'Young Indians are creating a new emotional geography where AI handles the thoughts too risky for family WhatsApp groups and too embarrassing for friends,' the report stated. 'This isn't about choosing machines over people. It's about having somewhere to put feelings that don't fit anywhere else.'advertisementYKA, which calls itself India's largest citizen-led media platform, and YLAC, which works on youth participation in policymaking, said this was the launch study in their Youth Pulse rounds will explore how young people negotiate other aspects of technology and society.- EndsTune InMust Watch
Time of India
34 minutes ago
- Time of India
TCS layoffs: IT employees union holds protests; company issues statement calling it ...
Tata Consultancy Services (TCS), India's largest IT services is presently facing backlash after announcing its plans to layoff around 12000 employees. The fresh round of layoffs will mark as the company's biggest workforce reduction till date. This move of TCS has led to multiple protests across various cities. The protests are organised by Union of IT & ITES Employees (UNITE). UNITE has also posted about the protects on social media platform X (formerly known as Twitter). 'TCS is retrenching workers not out of necessity, but for profit. Targeting senior employees & pushing illegal layoffs is an attack on job security across IT. Workers are not numbers on a balance sheet — we demand justice!' UNITE posted on X. Union protects against TCS layoffs UNITE supported by the Centre of Indian Trade Unions (CITU), staged demonstrations this week, demanding that TCS reverse its decision and urging government intervention. 'Union of IT And ITES Employees protested tofay in Chennai against the announced TCS layoff of 12000 employees and the government inaction,' wrote the Union association in a post shared on X. The union alleges that the layoffs have disproportionately targeted experienced mid-level and senior level professionals. The union also accuse the company of firing professionals with strong performance record and leadership credentials. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Berkshire Hathaway: American Investor Warren Buffett Recommends These 5 Books For Turning Your Li... Blinkist: Warren Buffett's Reading List Undo UNITE is also planning to escalate its campaign globally if the authorise doesn't act in time. TCS responds to the layoffs In an official statement the IT giant said: "TCS is on a journey to become a future-ready organisation… As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2% of our global workforce, primarily in the middle and the senior grades, over the course of the year." This transition is being planned with due care to ensure there is no impact on service delivery to our clients… We understand that this is a challenging time for our colleagues likely to be affected. We thank them for their service and we will be making all efforts to provide appropriate benefits, outplacement, counselling, and support as they transition to new opportunities,' added the company. TCS has also announced that it will give proper benefits, counselling, outplacement and support to the impacted employees. Along with this, the company will also be giving notice period compensation and severance benefits to the affected employees. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
