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MUMBAI: Reliance Retail Ventures announced on Thursday that it will

NEW DELHI: Activity in the country’s service sector rose to

MUMBAI: India is increasingly becoming central to the global investment

NEW DELHI: IndiGo has appointed former G20 Sherpa Amitabh Kant

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MUMBAI: Reliance Retail Ventures announced on Thursday that it will buy a minority stake in UK-based FaceGym. This equity investment will bring FaceGym into India. It did not disclose financial

NEW DELHI: Activity in the country’s service sector rose to a 10-month high in June as new orders increased and overseas demand strengthened, leading to job creation in the sector,

MUMBAI: India is increasingly becoming central to the global investment landscape as mega forces that reshape economies and markets, like demographic change, digitalisation, energy transition and global supply chain realignment

NEW DELHI: IndiGo has appointed former G20 Sherpa Amitabh Kant on its board. The airline’s board of directors met Thursday to approve Kant’s appointment. His appointment will be “effective from

NEW DELHI: The country’s economy is projected to grow by 6.4-6.7% during the current financial year, Rajiv Memani, newly appointed president of Confederation of Indian Industry (CII), said on Thursday

A good bowel movement, especially in the morning, sets the tone for the rest of the day. It goes without saying that when your bowels are healthy, you think better,

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MUMBAI: Reliance Retail Ventures announced on Thursday that it will buy a minority stake in UK-based FaceGym. This equity investment will bring FaceGym into India. It did not disclose financial

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Musk’s xAI joins $30 billion fund of MS-BlackRock

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Musk's xAI joins $30 billion fund of MS-BlackRock

Microsoft Corp, the biggest backer of Sam Altman’s OpenAI, and BlackRock Inc, which has an executive on the artificial intelligence startup’s board, are joining forces with one of his chief rivals.
Microsoft and BlackRock said on Wednesday that Elon Musk’s xAI is joining their effort to build $30 billion worth of data centers and other artificial intelligence infrastructure. The AI chipmaker Nvidia Corp, which was already named as a technical adviser to the group when it was announced last year, is also formally joining, according to a statement that didn’t detail member commitments.
Microsoft, which has invested about $13 billion in OpenAI, has increasingly been developing AI outside of that partnership. The software giant has created in-house AI models that it believes can compete with OpenAI, Bloomberg reported this month. Musk, also a co-founder of OpenAI, has meanwhile publicly feuded with Altman over the company’s efforts to shift to a for-profit structure.
The capital demands and enthusiasm for AI have prompted a range of companies and investors to forge alliances to build some of the biggest data centre campuses in the world. US President Donald Trump has touted hundreds of billions of dollars worth of commitments from firms including Softbank Group and OpenAI, which are behind a $100 billion AI investment plan dubbed Stargate.
The Microsoft-backed group will be renamed the AI Infrastructure Partnership, or AIP, and focus on infrastructure investments – including energy projects – mostly in the US, with a portion of the funds to be deployed in partner countries, according to the companies. The plan foresees bringing on additional investors. Clients, including pensions and insurers, are eager for such long-term infrastructure projects, BlackRock chief executive officer Larry Fink said in the statement.
BlackRock and Microsoft last year unveiled the coalition in partnership with MGX, a UAE investment vehicle that is also involved in Stargate, and Bayo Ogunlesi’s Global Infrastructure Partners. The companies said at the time they would seek $30 billion of private equity capital over an unspecified time frame and eventually leverage as much as $100 billion in potential investments.





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