After nearly a decade helping steer Charter Communications' cable and broadband business, CFO Jessica Fischer is departing for a Blackstone- and Google-backed venture that is investing billions to meet soaring demand for AI computing capacity.

The move places an experienced Fortune 500 finance chief at the center of one of corporate America's biggest investment booms. It also illustrates how the AI infrastructure buildout is drawing capital and senior talent away from established industries as companies race to add computing capacity.

"I'm embarking on an exciting new opportunity in the AI infrastructure space, joining the newly formed joint venture between Blackstone and Google in October," Fischer wrote on LinkedIn Monday. A Blackstone spokesperson confirmed to CFO Daily that Fischer will become CFO of the venture.

Blackstone and Google announced the venture in May, with plans to build a U.S.-based company providing computing infrastructure for AI models and applications. Blackstone is committing an initial $5 billion in equity. The company is targeting 500 megawatts of capacity by 2027 and plans to expand substantially beyond that. Google will provide its AI chips and related technology, while longtime Google infrastructure executive Benjamin Treynor Sloss will serve as CEO. The venture's reliance on Google's tensor processing units (TPUs) positions it within a broader push to expand alternatives to Nvidia's dominant AI chips, as major cloud and infrastructure providers seek to diversify the silicon that powers AI workloads.

Fischer will step down from Charter on Oct. 15. Kevin Howard, a Charter veteran serving as EVP, chief accounting officer, and controller, was appointed interim CFO on Monday. Charter will launch a search for a permanent finance chief.

Fischer, 41, joined Charter as corporate treasurer in 2017 and later became EVP of finance and CFO in 2021. Before Charter, she was a partner in EY's national tax department. Charter CEO Chris Winfrey called Fischer a key member of the executive team and credited her with helping build Spectrum into the country's largest broadband and video provider.

Her departure comes as Charter, No. 85 on the Fortune 500, grapples with steeper-than-expected broadband subscriber losses amid intensifying competition from fixed-wireless providers. According to an SEC filing, Fischer's resignation did not stem from a disagreement with the company and was unrelated to its operations or financial reporting.

Fischer is moving between two capital-intensive industries at very different stages of growth. Charter competes for subscribers in a mature connectivity market, while her new employer is preparing to spend billions building computing capacity as demand for AI infrastructure accelerates. The new venture is part of a wider pattern in which private equity firms and Wall Street investors have been funneling capital into data centers, a sector where the biggest constraint is often not money but access to power — making capacity targets like the venture's 500-megawatt goal a key measure of execution.

That environment also raises the stakes for the CFO role. Building AI infrastructure requires massive upfront investments and decisions about how quickly to add capacity when future demand and returns remain uncertain. Fischer brings experience overseeing finance at a large public company accustomed to making long-term infrastructure investments.

Her move reflects a broader shift in where corporate capital and executive talent are flowing. As billions pour into the infrastructure behind AI, finance chiefs with experience managing large investment programs are becoming central to how quickly the industry can grow and whether those investments ultimately pay off.

By Sheryl Estrada (Sheryl.Estrada@fortune.com). This story was originally featured on Fortune.com.