Kuwait Investment Authority Joins $10bn Helix Digital Infrastructure Venture with Nvidia and KKR

Kuwait Investment Authority has joined a group led by US asset manager KKR to launch Helix Digital Infrastructure, a new 10 billion US dollar company set up to provide infrastructure for artificial intelligence hyperscalers. The other partners in the venture are chip maker Nvidia and Vistra, a power generation company, KKR said in a statement.

The investment places Kuwait's sovereign wealth fund alongside some of the most significant names in global AI infrastructure. Nvidia will advise Helix on designing and operating AI data centres to improve energy efficiency, lower costs and bring new computing capacity online more quickly, while Vistra will provide the power generation required to run them. Helix will be led by Adam Selipsky, former chief executive of Amazon Web Services, with Waldemar Szlezak, KKR's global head of digital infrastructure, serving as chief investment officer.

The move comes weeks after Kuwait Investment Authority joined as an anchor investor in the 30 billion US dollar AI Infrastructure Partnership founded by Abu Dhabi's MGX, BlackRock's Global Infrastructure Partners and Microsoft. Together, the two commitments signal a clear strategic shift for Kuwait's sovereign capital toward AI infrastructure as an asset class, placing it alongside Abu Dhabi and Qatar in a wave of Gulf sovereign wealth funds positioning themselves at the centre of the global AI build out.

The scale of capital required for this build out is enormous. Amazon, Alphabet, Meta and Microsoft are together expected to invest close to 765 billion US dollars in AI related capital expenditure during the 2026 fiscal year. Gulf sovereign wealth funds are increasingly positioning themselves not as passive investors in AI model companies, but as owners of the physical infrastructure layer those models run on, a strategy that offers more predictable returns tied to long term hyperscaler contracts rather than the volatile valuations of frontier AI labs.

Energy availability has become the binding constraint on how quickly new AI capacity can be brought online, which is why Vistra's role in Helix is as significant as Nvidia's. Power generation timelines, not chip supply, are now the critical path for many planned data centre projects globally, including those backed by Gulf capital. For Kuwait, the Helix investment also represents a diversification of its AI exposure beyond model developers. The Qatar Investment Authority has taken a different but related approach, having backed Anthropic's recent funding round, reflecting a broader pattern of Gulf funds spreading commitments across both the infrastructure layer and the model layer of the AI stack.

The Helix venture is expected to begin site selection and construction planning in the coming months, with Selipsky's operational experience at AWS seen as central to executing at the pace hyperscaler clients now expect.