Infrastructure capital and compute: MGX $49B sovereign fund + Together AI $800M at $8.3B + Iceotope $26M cooling + DayOne $4B DC + Blackstone $5B Google JV + Modal Labs
Key Questions
What is MGX and the size of its recent fund?
MGX is an Abu Dhabi AI fund that closed its inaugural Fund I at $49 billion. It is backing every major US frontier lab.
How much did Together AI raise and at what valuation?
Together AI raised $800 million at an $8.3 billion valuation in a round led by Saudi Aramco. The funds support its inference cloud infrastructure.
What is the Blackstone and Google joint venture for?
Blackstone formed a $5 billion equity JV with Google to develop 500MW of AI infrastructure by 2027. It focuses on data center capacity expansion.
What funding did Modal Labs receive?
Modal Labs raised $355 million in a Series C round at a $4.65 billion valuation. The company provides serverless GPU infrastructure.
Which companies are investing in AI data center cooling and capacity?
Iceotope raised $26 million for liquid cooling technology, while DayOne is upsizing its Series C past $4 billion for data centers. These support the overall AI infrastructure buildout.
MGX closes at $49B, backing every major US frontier lab; Together AI raises $800M at $8.3B (Saudi Aramco-led) for inference cloud; Iceotope $26M liquid cooling; DayOne upsizing Series C past $4B; Blackstone $5B equity JV with Google for 500MW AI infra by 2027; Modal Labs $355M Series C at $4.65B serverless GPU. Sovereign wealth funds and hyperscaler capital reshaping AI infrastructure buildout.