Kuwait Wealth Fund Joins Microsoft, MGX’s $30 Billion AI Venture

Kuwait’s sovereign wealth fund is joining a Microsoft Corp.-backed initiative to bankroll $30 billion in artificial intelligence infrastructure globally, as the oil-rich Gulf nation looks to tap into the booming sector.

The Kuwait Investment Authority will become the first non-founder financial anchor in the AI Infrastructure Partnership, according to a statement on Tuesday that didn’t disclose any financial commitment. Microsoft, Abu Dhabi’s MGX and BlackRock Inc. had in March added Elon Musk’s xAI and chipmaker Nvidia Corp. to the initiative.