Nvidia Corp. and xAI Corp. have joined a consortium that plans to invest $30 billion in artificial intelligence infrastructure.

The companies announced their decision to participate today. In conjunction, the consortium has renamed itself from Global AI Infrastructure Investment Partnership to AI Infrastructure Partnership, or AIP for short.

AIP was launched last September by Microsoft Corp., BlackRock Inc. and MGX, an Abu Dhabi-based investment firm. BlackRock’s recently acquired GIP subsidiary is also a founding backer. It’s an infrastructure-focused fund that operates assets such as data centers, wind farms and airports.

The consortium’s initial goal is to invest more than $30 billion in AI projects. In the longer term, AIP hopes to raise as much as $100 billion from companies and other backers. The consortium disclosed today that the fund has “attracted significant capital and partner interest since its inception in September.”

Last year, Microsoft detailed that AIP plans to invest in data centers and energy infrastructure. The fund expects to invest the bulk of its capital in the U.S.

Prior to the announcement that Nvidia is joining AIP, the chipmaker was a technical advisor to the consortium. Last year, it agreed to provide technical input on the AI data centers in which the fund will invest. Nvidia plans to continue providing technical advice going forward.

“The global buildout of AI infrastructure will benefit every company and country that wants to achieve economic growth and unlock solutions to the world’s greatest challenges,” said Nvidia Chief Executive Officer Jensen Huang.

Separately, AIP’s backers today disclosed that GE Vernova Inc. and NextEra Energy Inc. will also work with the consortium. 

GE Veronva is a supplier of energy generation equipment such as wind turbine engines. It spun off from General Electric Co. last year as part of the latter company’s split into three firms. According to BlackRock, GE Veronva will work with AIP and its partners on supply chain planning initiatives.

NextEra Energy, the other company that will collaborate with the consortium, is the largest electric utility in the U.S. It’s the world’s top provider of wind energy. The utility will help “accelerate the scaling of critical and diverse energy solutions for AI data centers.”

Several of AIP’s backers are also involved in other AI infrastructure investment initiatives. 

Last year, Microsoft partnered with utility Constellation Energy Generation LLC to reopen the Three Mile Island nuclear power plant. The latter company will invest $1.6 billion to renovate the facility. After it comes online in 2026, the power plant will supply 835,000 megawatts of electricity for Microsoft data centers.

Nvidia, meanwhile, is participating in OpenAI’s Stargate Project. The ChatGPT developer and its partners plan to build $500 billion worth of AI infrastructure in the U.S as part of the initiative .

Photo: Nvidia