Post by : Mumtaaz
Qadiri
Photo: WAM
The Kuwait Investment Authority (KIA) has joined forces with MGX, BlackRock, and Global Infrastructure Partners (GIP) to boost investment in the latest AI technology infrastructure.
The AI Infrastructure Partnership (AIP) was created in September 2024 to raise $30 billion from investors, companies, and asset owners. This amount could grow to $100 billion if debt financing is included.
In just one year, AIP has become a leading global platform for AI infrastructure. Big tech companies like NVIDIA, xAI, and Cisco have joined, and AIP also works with GE Vernova and NextEra Energy to improve energy solutions for AI data centers.
With its many years of investment experience, KIA is well placed to help AIP grow and carry out its global plans. KIA is the first major investor to join after the founders. Sheikh Saoud Salem Abdulaziz Al-Sabah, managing director of KIA, said, “We believe AI infrastructure is key to future growth, and we are proud to work with top global partners to speed up its development.”
This news was shared during the official visit of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE, to Kuwait.
During this visit, many agreements were signed between the UAE and Kuwait in areas like technology, diplomacy, justice, defense, education, and social affairs.
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