Nvidia and Elon Musk's xAI have joined a consortium backed by Microsoft, investment fund MGX and BlackRock to expand AI infrastructure in the U.S., the companies said on Wednesday, as a global race to dominate the nascent technology intensifies.

Key Takeaways Nvidia and xAI are joining BlackRock and Microsoft in an AI infrastructure group seeking $30 billion in funding.The group was first announced in September as BlackRock and Microsoft sought to fund new data centers to power AI products.

Elon Musk’s xAI and Nvidia — have joined BlackRock, Microsoft and investment fund MGX’s group to expand AI infrastructure across the U.S., the companies announced Wednesday. The fund — called the AI Infrastructure Partnership — at its formation in September of last year,