"Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity," Larry Fink, Chairman and CEO of BlackRock, said.
"Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation," he added.
Microsoft CEO Satya Nadella was similarly enthusiastic, stating that GAIIP will drive innovation and growth across "every sector of the economy" through collaboration.
Despite ramped-up investments, data centers consume a massive amount of energy and there's still little in the way of a large-scale solution.
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