Blackrock, Microsoft join hands to raise $30 billion for AI investments

BlackRock Inc. and Microsoft Corp. are teaming up on one of the largest efforts to date to bankroll the build-out of data warehouses and energy infrastructure behind the boom in artificial intelligence.

The companies, along with the United Arab Emirates’ MGX investment vehicle, will seek $30 billion of private equity capital over time for the strategy, which will then leverage the money to as much as $100 billion in potential investments, the companies announced Tuesday.