Stocks
Nvidia-Backed $500 Billion AI Infrastructure Plan Lifts S&P 500 Target
Nvidia is at the center of a major AI infrastructure development effort, with a consortium of financial groups working on a $500 billion funding package.
The reported consortium includes Apollo Global Management (APO), Blackstone (BX), BlackRock's Global Infrastructure Partners unit, Brookfield Asset Management (BAM), Goldman Sachs (GS), and KKR (KKR).
JPMorgan has lifted its year-end S&P 500 target to 8,000 from 7,800, citing stronger cloud growth, rising backlogs, and customer demand justifying the market's massive infrastructure spend.