Microsoft's investment comes on top of the capital expenditures needed to support infrastructure expansion for its Azure public cloud, which supplies OpenAI and other AI customers. Microsoft said in July that fiscal fourth-quarter capital spending, including assets acquired under finance leases, totaled $19 billion.
In January, BlackRock announced its intent to acquire GIP for $3 billion in cash and around 12 million shares of BlackRock common stock. BlackRock said last week that it expects the deal to close Oct. 1.