BlackRock will launch an artificial intelligence fund with software giant Microsoft worth around $30 billion to build data centers and energy projects. The AI partnership will likely feed the growing hunger for computing capacity,

BlackRock and Microsoft plan to launch a more than $30 billion fund to invest in artificial intelligence infrastructure to build data centers and energy projects, the companies said on Tuesday.

The partnership, called the Global AI Infrastructure Investment Partnership, will additionally build out energy infrastructure to create power sources for the facilities, the companies said.