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BlackRock and Microsoft plan $30bn fund to invest in AI infrastructure

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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. 

The fund, which BlackRock is launching with its new infrastructure investment unit, Global Infrastructure Partners, would be one of the biggest investment vehicles ever raised on Wall Street. Microsoft and MGX, the Abu Dhabi-backed investment company, are general partners in the fund. Nvidia, the fast-growing chipmaker, was providing expertise, the people said.

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The investment vehicle is aimed at addressing the staggering power and digital infrastructure demands of building AI products that are expected to face severe capacity bottlenecks in coming years, according to people briefed about the matter. The computing power of AI requires far more energy than previous technological innovations and has strained existing energy infrastructure.

The fund would mark GIP’s first big fund since the private infrastructure investment group agreed to be acquired by BlackRock for $12.5bn earlier this year. That deal is due to close in October. 

BlackRock, the world’s largest money manager, has highlighted the energy sector as one of its top opportunities for growth. Chief executive Larry Fink wrote to investors earlier this year, that “in my nearly 50 years in finance, I’ve never seen more demand for energy infrastructure”.

The soon-to-be launched fund is the latest vehicle created by a large asset manager to meet the ever-growing demand for energy to power generative AI and cloud computing. Earlier this year Microsoft agreed to back $10bn in renewable electricity projects built by Canada’s Brookfield Asset Management. Microsoft has made a commitment to ensure 100 per cent of its energy consumption is matched by zero carbon energy purchases by 2030. 

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“The country and the world are going to need more capital investment to accelerate the development of the AI infrastructure needed. This kind of effort is an important step,” said Brad Smith, Microsoft’s president.

In 2017, Blackstone announced plans for a $40bn infrastructure vehicle with backing from Saudi Arabia, and Brookfield last year raised $28bn for what was described as the largest ever infrastructure fund.

The International Energy Agency estimates that global electricity consumption by data centres could surpass 1,000 terawatt-hours by 2026, more than twice the amount used in 2022. 

In the US, which hosts one-third of the world’s data centres, electricity demand is rising rapidly for the first time in two decades, driven partly by these energy-intensive facilities. A report from Grid Strategies indicates that five-year projections for electricity demand growth in the US have nearly doubled over the past year, increasing from 2.6 per cent to 4.7 per cent.

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Nvidia and MGX did not immediately respond to requests for comment. BlackRock declined to comment.

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Travel

I visited Ireland’s ‘ancient capital’ an hour from London – with seafront pubs and Viking experiences

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At Trim Castle a guided tour starts at just £2.50 and it is free to explore the grounds

I FEEL about six years old, hands and knees covered in thick mud, as I emerge from a tunnel only big enough to crawl through, first used by Christian settlers more than 1,200 years ago to escape Viking raids.

I’m at Knowth, the world’s largest passage tomb, just 20 minutes north of Dublin in Ireland’s Boyne Valley.

At Trim Castle a guided tour starts at just £2.50 and it is free to explore the grounds

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At Trim Castle a guided tour starts at just £2.50 and it is free to explore the groundsCredit: Alamy
The ancient sites of Newgrange, Knowth and Howth were built 5,000 years ago for the burial of around half a dozen 'god-like' people

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The ancient sites of Newgrange, Knowth and Howth were built 5,000 years ago for the burial of around half a dozen ‘god-like’ peopleCredit: Supplied
Plenty to sea at Annagassan Harbour

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Plenty to sea at Annagassan HarbourCredit: Meath County Council
Mel Gibson in Braveheart

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Mel Gibson in BraveheartCredit: Alamy

The ancient sites of Newgrange, Knowth and Howth were built 5,000 years ago for the burial of around half a dozen “god-like” people.

Our tour guide explains that the monuments, older than the Egyptian pyramids and Stonehenge, were built like giant lasagnes, with huge stones piled one on top of the other.

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Known as the birthplace of Ireland’s ancient east, the Boyne Valley is ideal for exploring Ireland’s history and tradition — without travelling too far from Dublin Airport.

After my ancient sites tour, I headed to Causey Farm in Fordstown, which offers groups of tourists the chance to “be Irish for the day” for as little as £12pp.

Arriving to the homely smell of a wood-burning stove, I’m shown how to make Irish soda bread, before moving on to a lesson on the traditional Irish drum, known as a bodhrán (pronounced bow-ran).

Next comes a tour of the animals — I get to meet a fluffy, ten-week-old border collie that melts my heart, as well as a slightly less charming (actually terrifying) pig, some alpacas and rabbits.

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The visit finishes with farmer Matt Murtagh demonstrating how his sheepdog Crick effortlessly corrals a herd of sheep wherever he demands, at one point playfully running the herd inches from me.

The Boyne Valley is also ripe with history — it’s the setting for the 1995 Mel Gibson film Braveheart and where the Battle of the Boyne was fought between deposed King James II and the newly crowned King William III in 1690.

At Trim Castle, a guided tour starts at just £2.50 and it is free to explore the grounds.

We get to climb right to the roof, stopping to see key rooms along the way, with walls covered in 18th century graffiti — a John Gibney marked his name in 1760.

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Aer Lingus launch new direct flight to popular stateside destination from Dublin Airport

We’re then shown the chapel where the priests’ ornate wash basin can still be seen, and there’s even a medieval toilet (read hole in the floor) — lucky us!

If history isn’t your thing, Park Beo, an adventure base in Wilkinstown, offers a “gateway” to the Lakelands Greenway — a cycle path stretching 18 miles along an old railway line from Navan to Kingscourt — as well as shops selling everything from cheese toasties to cherry bakewells produced by a local.

With a huge car park, it acts as space to service visitors who want to head out for a walk with a fresh takeaway coffee.

There’s also a bi- cycle hire office with bikes and e-bikes to rent from £8.30 an hour.

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If you prefer a seafront amble, this region boasts miles of impressive coastline.

The village of Annagassan, a former Viking settlement, has breathtaking coastal views, with a dramatic tide perfect for razor clams.

Seafood banquet

You can sample them fresh at local joint, The Glyde Inn, a charming 18th-century pub with roaring fires and an award-winning restaurant with panoramic sea views.

For something extra special, the family-run Irish National Pub of the Year award winner offers a dinner-and-show style “Viking VR Experience” for £50pp.

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Each ticket gets you a pint of Irish Pale Ale, brewed down the road, as well as a ten-minute VR show of what the area would have looked like at the time of the Vikings in 841 AD, when Bjorn the Great was in charge of the settlement there.

Then comes the main event, a seafood banquet of whatever has been caught that day.

I was served Carlingford oysters and crab and butter-coated razor clams to start, followed by a main course of black sole with wilted sea beech foraged just outside the restaurant’s patio doors, served alongside a creamy sea radish mash.

Try to book for late afternoon, as from 5.30pm to 6.30pm each day a live band plays traditional music.

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It’s the perfect ending to any Irish adventure.

GO: BOYNE VALLEY

GETTING THERE: Aer Lingus offers nine daily flights from Heathrow to Dublin at £59.99 each way.

See aerlingus.com.

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STAYING THERE: Double rooms at the 4H Trim Castle Hotel in Meath from £100 per night.

See trimcastle.com.

The Headfort Arms Hotel in Kells has rooms from £82 per night.

See headfortarms.ie.

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MORE INFO: See discoverboynevalley.ie.

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Eurowings adds access to four new lounges

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Eurowings adds access to four new lounges

BIZclass passengers and HON Circle and Senator status members will now have access to lounges in Palma de Mallorca, Dubai, Cairo and Jeddah

Continue reading Eurowings adds access to four new lounges at Business Traveller.

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Sunday Number 66: Numbers Puzzle

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Sunday Number 66: Numbers Puzzle

Sunday Number 66: Numbers Puzzle

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I tried adults-only, all-inclusive holiday resort in UK & was won over by activities & night-time shows

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Give rowing on the boating lake a try

WHEN I think of family holidays as a child, my mind instantly wanders to Potters Resorts in Hopton-on-Sea.

The happy memories include sports games on the green fields and my best X Factor-style audition in the children’s talent competition.

Give rowing on the boating lake a try

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Give rowing on the boating lake a tryCredit: supplied
Or unleash your inner child at rally karting

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Or unleash your inner child at rally kartingCredit: supplied

So, when I heard about Potters recently-opened Five Lakes, at Maldon, Essex, which is exclusively for adults, I couldn’t wait to book in.

How would the “all grown-ups” version compare to my cheery childhood holidays?

The 320-acre resort is home to five lakes and an 18-hole golf course – and it offers just as much entertainment for the adults.

I was always too busy having fun to pay much attention to the bedrooms as a kid.

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But my premier plus room at Five Lakes, which included two very comfortable single beds with plenty of pillows, did not disappoint.

‘Blissful serenity’

Despite having opened more than two years ago, everything felt exceptionally clean, with ample space for mum and me on our girly weekend away.

After dumping our bags, our first port of call was the bar, to plot an itinerary from the never-ending list of on-site activities (and to sample the cocktails).

What do you need to do to ensure your passport is OK for travel?

Over the next few days, we’d be practising our aim in archery lessons, unleashing our inner child at rally karting and even having a go at indoor shooting (I won myself a medal!).

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Each activity is around a 10-15 minute walk from the main resort, but there are golf buggy “taxis” at reception if you don’t fancy the stroll.

There are more zen-like activities, too, for the less adventurous, such as yoga, pottery painting and bracelet making, all run by patient, professional and fun instructors.

The only downside is that there is no online booking system so be prepared to queue sometimes.

Generous buffets where you can help yourself are laid out for each meal, including, pastries, cereal and a fry up in the morning; sandwiches and salads plus buffet-style hot food for lunch; and everything from curry to roast dinners in the evening.

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The special thing about Potters is that you’re served by the same waitress or waiter throughout your long weekend, so if you flag any special requirements, they will be remembered for each meal.

After dinner every night, crowds spill into the Glade Theatre for interactive games and West End-quality performances with dancers from all over the world.

The level of talent in that room was not something you’d expect to see in a resort in the middle of Essex.

The fun did not stop there, either. After each show, the resort puts on a silent disco, blasting everything from today’s top hits to old school classics through headphones.

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Luckily, the bar stays open until late, so the drinks can keep on flowing – and the best part is the midnight buffet, providing late-night snacks for the hardcore dancers.

With a slightly sore head the following morning, I decided to treat myself to a back and scalp massage – one of the best I have ever had and worth every penny (£53 for 40 minutes).

The gentle pummelling seemed to ease all the tension in my entire body, so by the time I rejoined my mum in the main spa (she was taking advantage of the sauna, steam room and hot tub), I was in a state of blissful serenity.

Is it possible that a Potters Resorts getaway is even better as an adult? It might just be.

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GO: POTTERS ‘FIVE LAKES’ RESORT, ESSEX

STAYING THERE: A four-night midweek break at Potters Resorts Five Lakes costs from £579pp, based on two people sharing, and including full-board dining, activities and entertainment.

See pottersresorts.com.

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Trump rules out jobs for Mike Pompeo and Nikki Haley in White House

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Donald Trump has ruled out naming Mike Pompeo, the former secretary of state, to his second administration, as he moves to build out his cabinet after winning the US presidential election against Kamala Harris this week.

Trump announced that he would not be including Pompeo in the government in a post on Truth Social on Saturday. He also said that Nikki Haley, the former US ambassador to the UN who challenged him for the White House, would not be joining.

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Both Pompeo and Haley have been critical of Trump before backing him for president in the general election, and his announcement highlights how he is planning to staff his administration with loyalists who have not crossed him recently.

“I will not be inviting former Ambassador Nikki Haley, or former Secretary of State Mike Pompeo, to join the Trump Administration, which is currently in formation,” Trump said in the post.

“I very much enjoyed and appreciated working with them previously, and would like to thank them for their service to our Country.”

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Pompeo was seen as a top contender for defence secretary in Trump’s second administration, having already served as CIA director as well as secretary of state in his first.

Trump’s statement striking him from contention means Mike Waltz, the Florida congressman, is the most likely candidate to run the Pentagon. Tom Cotton, the Arkansas senator and another top contender for defence secretary, has already ruled himself out.

Pompeo has been a staunch advocate for US aid to Ukraine as it battles the Russian invasion, putting him at odds with Trump and his allies who have been sceptical of helping Kyiv.

He has criticised Trump in the past for his profligate spending policies and his mishandling of classified documents. Pompeo warned that Republicans needed to be beware of “those with fragile egos who refuse to acknowledge reality” — which was widely viewed as a swipe at Trump.

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But this year Pompeo said he would be open to serving in the administration if asked.

Haley was much less likely to join Trump for his second term after heavily attacking in during the Republican primary, and criticising his campaign in the final weeks of the race.

Trump’s post about Haley and Pompeo comes after he made his first big appointment on Friday, choosing Susie Wiles, his top political adviser and strategist, to be White House chief of staff.

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Aldi reveals locations for 11 new stores to open before Christmas – so is one coming to YOUR local town?

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Aldi reveals locations for 11 new stores to open before Christmas - so is one coming to YOUR local town?

THE German discounter is opening 11 new stores as part of a £800 million expansion investment.

Now even more communities can enjoy the “unbeatable prices” Aldi has to offer, all in time for the festive season.

The retailer is committed to expanding its UK outlets

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The retailer is committed to expanding its UK outletsCredit: Getty

Starting this week, stores in Sedgley in the West Midlands and Castle Douglas in Scotland are set to open.

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While Horsham in West Sussex and Muswell Hill in London are preparing to welcome new Aldi stores later in the month.

And the expansions don’t stop there.

In December, stores in Totton in Hampshire, Cribbs Causeway in Bristol and Pwllheli in Gwynedd are scheduled to open.

Not only will 11 Aldi stores open before Christmas, 15 stores will undergo refurbishments before the big day too.

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This is all part of Aldi’s long term plan to increase its UK footprint.

The supermarket is set to invest £800 million into expansions and open 1,500 stores across the UK.

Jonathan Neale, Real Estate Managing Director at Aldi UK, said: “At Aldi, we’re committed to making high-quality, affordable food accessible to everyone.

“Our new store openings are a testament to our ongoing investment in the UK, and we’re thrilled to bring Aldi’s unbeatable prices to even more communities ahead of the festive season.”

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Aldi also revealed that its Store Assistants receive a starting pay of £12.40 per hour.

Aldi teases ‘super cute’ Christmas ad – but shoppers have been left asking ‘where’s Kevin the Carrot-’

With those based in London earning £13.65 per hour.

Plus, Aldi remains the only supermarket to offer paid breaks, that’s worth over £900 for the average store worker.

Full list of Aldi stores opening before Christmas 2024

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  • Bilston Street, Sedgley, West Midlands – November 2024
  • Oakwell Road, Castle Douglas, Dumfries and Galloway – November 2024
  • Tanbridge Retail Park, Horsham, West Sussex – November 2024
  • Straiton Road, Loanhead, Midlothian – November 2024
  • Muswell Hill, Haringey, Greater London – November 2024
  • Caernavon Road, Pwllheli, Gwynedd – November 2024
  • Salisbury Road, Totton, Hampshire – December 2024
  • Cribbs Causeway, Bristol – December 2024
  • Colliery Lane, Hetton-le-Hole, Tyne and Wear – December 2024
  • Princess Road, Ashton-in-Makerfield, Greater Manchester – December 2024
  • Duff Street, Macduff, Banffshire – December 2024

It comes after Aldi announced the exact date its cosy winter buys will hit stores.

The special buys sale began on Sunday, November 3 – with winter warmers such as hot water bottles and eye masks all up for grabs.

A hot water bottle bottle and eye mask duo by Kirkton House will set you back £4.99.

The soft and stylish purchase comes in four colours grey, blue, white and purple, and is perfect for a warm and restful night in.

The German chain retailer is also selling long hot water bottles, perfect for snuggling into bed with.

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How to save money on Christmas shopping

Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping.

Limit the amount of presents – buying presents for all your family and friends can cost a bomb.

Instead, why not organise a Secret Santa between your inner circles so you’re not having to buy multiple presents.

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Plan ahead – if you’ve got the stamina and budget, it’s worth buying your Christmas presents for the following year in the January sales.

Make sure you shop around for the best deals by using price comparison sites so you’re not forking out more than you should though.

Buy in Boxing Day sales – some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25.

Delivery may cost you a bit more, but it can be worth it if the savings are decent.

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Shop via outlet stores – you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts.

They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor

Just days ago Aldi shoppers were left overjoyed after noticing that the Winter Scene Lanterns have returned to the middle aisles.

Not only do they look fabulous, but they’re super affordable too.

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At just £6.99, these lanterns are incredibly gorgeous and great value for money.

One savvy shopper was left overjoyed when she spotted the festive find in her local Aldi.

Thrilled with her purchase, which she has been trying to nab for almost three years, Helen Perry took to social media to share it with others, leaving many open-mouthed. 

Posting on Aldi UK Shoppers, a private Facebook group with 312,500 members, Helen shared snaps of her new green lantern and beamed: “After almost three years, I have finally got the green one. 

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“I’m so chuffed.”

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