Nvidia teams up with Wall Street asset managers on $500 billion AI infrastructure push
The consortium would back AI data centers, power and chip purchases as Nvidia seeks to widen access to scarce computing capacity.
- On Aug 10, Nvidia partnered with financial firms Apollo Global and Blackstone to assemble a $500 billion funding package for AI infrastructure development, a person familiar with the matter told Reuters.
- Big Tech companies signaled that spending on artificial intelligence will not slow down, with combined outlays projected to surpass $730 billion this year, driving demand for massive capital investment.
- The Financial Times reported the funding group includes BlackRock, Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs, and KKR, negotiating to partner with Nvidia on the large-scale build-out.
- Nvidia shares fell over 3% in afternoon trading, while BlackRock and KKR declined to comment to Reuters; the deal could be announced as early as today.
- This effort follows Nvidia's $25 billion bond issuance announced in June, which increased liquidity for the first time since 2021, demonstrating the company's sustained capital-raising strategy.
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Jensen Huang's latest pitch to investors: Nvidia's AI compute is its own asset class
Philip FONG / AFP via Getty ImagesJensen Huang touted Nvidia's AI compute as a distinct asset class as it partners with Wall Street giants. The chip maker this week announced a partnership with top Wall Street firms to finance AI infrastructure.Huang said Nvidia AI compute is a financeable, revenue-producing asset class for investors to consider. Nvidia's Jensen Huang sees company's AI compute as a burgeoning asset class for investors to conside…
Advanced microprocessor manufacturer will collaborate with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR
US-based technology company Nvidia announced it has formed strategic partnerships with six financial institutions to mobilize over $500 billion in third-party capital for the development of its artificial intelligence infrastructure.
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