Microsoft, BlackRock, Nvidia and UAE-based investment firm MGX have announced the creation of a $30 billion fund to invest in the development of artificial intelligence, according to a joint statement from the companies published on Microsoft’s website.
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The formation of the fund will increase the competitiveness of the United States in the field of artificial intelligence and meet the growing need for energy infrastructure to ensure economic growth, Microsoft stressed.
The fund will receive funding from investment companies, corporations, private investors and other sources. At future stages of the fund’s development, its volume will be increased to $100 billion.
The funds are used to support AI ecosystems, technological developments and the construction of manufacturing companies to improve artificial intelligence.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
