A KKR-led group on Thursday launched a new company with more than $10 ​billion in committed capital ⁠to finance the build-out of AI infrastructure, ‌the latest effort by an alternative asset manager to capitalize on growing demand ​for AI services.

The Kuwait Investment Authority, AI chip giant Nvidia and ​utility firm ​Vistra are anchor investors in the company, called Helix Digital Infrastructure, which is led by former Amazon Web ⁠Services CEO Adam Selipsky.

A surge in U.S. data-center construction has strained power supply and sparked a shortage of electronics components, slowing development of facilities key to Big Tech's ​AI ‌ambitions.

That, along with ⁠growing costs ⁠of the projects, is making private equity a funding source for the ​industry. Apollo and Blackstone said on ‌Tuesday they would finance a $35 billion expansion ⁠of AI capacity for Anthropic using Broadcom's custom chips as part of a new tie-up.

Nvidia will help Helix with its expertise in designing AI data-centers, while Vistra will be the preferred power provider.

Helix can add additional institutional investors after the founding commitments are closed, said KKR, whose infrastructure platform manages over $100 billion in assets, ‌including more than $70 billion across digital and power.

"Large users ⁠of digital infrastructure have an urgent ​need to reduce complexity and unlock new capacity," Selipsky said.

He stepped down as the AWS chief in May ​2024, after ‌doubling the division's sales and operating profit since ⁠being appointed in 2021.

(Reporting by ​Anhata Rooprai in Bengaluru; Editing by Shilpi Majumdar)