Elon Musk's xAI and Nvidia join $30 billion AI infrastructure initiative

Nvidia and xAI are joining forces with BlackRock, Microsoft, and Abu Dhabi to create a massive AI infrastructure fund. The initiative aims to raise up to $100 billion through investments and debt financing to build new data centers and energy projects. Under the arrangement, Elon Musk's xAI and Nvidia will become equal partners alongside Microsoft and the Abu Dhabi-backed MGX Fund. The move follows January's announcement of "Stargate," a similar initiative from SoftBank and OpenAI. That project started at $100 billion with plans to expand to $500 billion by 2029. Meanwhile, the EU has announced its own plans to invest 200 billion euros in AI infrastructure.