Investment giant BlackRock (BLK.N) and tech leader Microsoft (MSFT.O) announced plans on Tuesday (Sept.17) to launch a $30 billion fund aimed at investing in artificial intelligence infrastructure, including data centers and energy projects.

AI models, particularly those used for deep learning and large-scale data processing, require significant computational power, which has driven up energy consumption. To meet these demands, tech companies are clustering thousands of chips together, fueling the growing need for specialized data centers.

The new investment vehicle, called the Global AI Infrastructure Investment Partnership, aims to strengthen AI supply chains and energy sourcing, according to BlackRock and Microsoft. MGX, an Abu Dhabi-backed investment firm, will serve as a general partner, while Nvidia (NVDA.O) will provide expertise.

With debt financing included, the partnership could mobilize up to $100 billion in total investment. The primary focus will be on the United States, with additional investments in partner countries.