Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure
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Temasek has joined AI Infrastructure Partnership, one of the world’s largest efforts to invest in data centres and energy facilities needed to power AI applications.
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SINGAPORE – Temasek has joined a consortium backed by Microsoft, BlackRock and tech investment company MGX to invest in and expand artificial intelligence (AI) infrastructure, according to BlackRock’s investor-day presentation slides on June 12.
The Singapore investment company has joined AI Infrastructure Partnership (AIP), a group that also includes BlackRock’s Global Infrastructure Partners, the slides showed.
AIP, formed in September 2024 with a goal to initially invest more than US$30 billion (S$38 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 US$100 billion, including debt financing, for such investments, which will focus on the US.
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 like 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,” Mr Ravi Lambah, Temasek’s head of strategic initiatives, said in an e-mail 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 $389 billion as at March 31, 2024, according to its website. REUTERS
