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Nvidia and xAI join BlackRock’s $30 billion AI infrastructure fund

The tech rivals are joining forces in one of the largest private sector pushes for AI infrastructure.

3/19/25 11:59AM

Nvidia and Elon Musk’s xAI are the latest to join a major AI infrastructure consortium backed by Microsoft, investment fund MGX, and BlackRock, the companies announced Wednesday. The move strengthens a rampant effort to expand AI data centers and energy facilities across the US as competition in the space heats up.

Now named the AI Infrastructure Partnership, the Microsoft- and BlackRock-backed group was formed last year with an initial $30 billion investment to help build data centers and support applications like ChatGPT. Nvidia initially joined as a technical advisor and MGX was an investor in xAI’s recent $6 billion Series C raise.

The expansion comes two months after President Donald Trump introduced Stargate, a separate AI infrastructure initiative backed by SoftBank, OpenAI, and Oracle. Stargate aims to mobilize up to $500 billion, with investors already committing $100 billion for immediate deployment. Still, with Nvidia and xAI now on board, the AI Infrastructure Partnership is on pace to be one of the biggest private sector pushes yet.

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American Airlines joins the flock, hiking bag fees amid higher jet fuel prices

American Airlines on Thursday announced that it, too, will be hiking the fees it charges customers to check luggage.

With the move, all four of the major US airlines, which together control about 80% of the US market, have now hiked their baggage fees in recent days amid surging jet fuel prices.

The change will go into effect on tickets bought on or after Thursday, the same day Southwest’s hike begins.

Since late March, JetBlue, Delta Air Lines, United Airlines, Canada’s WestJet, and Southwest have hiked their fees. Experts expect more major carriers to follow, and to potentially tweak the pricing of other ancillary revenue sources like seat assignments and carry-on luggage.

American Airlines updates bag fees and Basic Economy fares

The change will go into effect on tickets bought on or after Thursday, the same day Southwest’s hike begins.

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Less than a year after implementing them, Southwest is also hiking its bag fees

Southwest Airlines has joined the growing list of airlines opting to hike their bag fees amid sustained higher jet fuel costs.

Starting today, the first checked bag at the carrier — which implemented bag fees less than a year ago — will jump from $35 to $45, and the second from $45 to $55. Southwest quietly disclosed the change Tuesday.

Southwest assigned the decision to “part of an ongoing analysis of the business and against the evolving global backdrop.”

As of Wednesday, jet fuel prices dropped to $4.16 a gallon, per the Argus US Jet Fuel Index, down from $4.81 on Tuesday following President Trump’s ceasefire announcement, which sent travel stocks soaring. Major airlines have shed some of those gains in premarket trading Thursday.

With the move to hike bag fees, Southwest joins JetBlue, United Airlines, Delta Air Lines, and Canada’s WestJet, all of which also boosted fees this month. Experts expect more major carriers to follow, and to potentially tweak the pricing of other ancillary revenue sources like seat assignments and carry-on luggage.