Microsoft and BlackRock are part of a group of companies collaborating to pull together up to $100 billion to develop data centers for artificial intelligence and the energy infrastructure to power them.

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.

BlackRock is preparing to launch a more than $30bn artificial intelligence investment fund with technology giant Microsoft to build data centres and energy projects to meet growing demands stemming from AI, people briefed about the matter said.