BlackRock may invest $1.5 billion in AI and data centers in Azerbaijan

On January 21, 2026, in Davos, President of Azerbaijan Ilham Aliyev met with Larry Fink, CEO of BlackRock, and Adeyemo Ogunlesi, founder and CEO of Global Infrastructure Partners, an international investment firm focused on infrastructure.

During the talks, the parties discussed the current state and prospects of cooperation between the State Oil Fund of Azerbaijan (SOFAZ) and BlackRock, as well as opportunities for investing in projects related to artificial intelligence, data centers, and cloud infrastructure in the country.

As part of the visit, a memorandum of understanding was signed between SOFAZ, BlackRock, and GIP, which provides for the consideration of investment projects worth up to $1.5 billion over the next three to four years. These funds may be directed toward the development of high-tech infrastructure, including cloud services and data centers, to meet the growing demand for digital services.

The parties also intend to leverage GIP's international experience in managing infrastructure assets, which, according to Baku, will be a step toward transforming Azerbaijan into a regional hub for technology and cloud solutions.

Source: TechAz