Nvidia Leads $500 Billion AI Financing Venture with Wall Street Firms
Nvidia is partnering with several Wall Street firms to create a $500 billion funding package for AI infrastructure development. The group, which includes Apollo Global and Blackstone, will work together with Nvidia to raise capital for the chips, power generation, and data centers that underpin the AI boom.
The tie-up highlights Nvidia's efforts to secure funding for its AI-related projects, as Big Tech companies signal that their spending on AI will not slow down. In fact, combined outlays are set to surpass $730 billion this year.
Nvidia has already tapped into the debt market by raising $25 billion through a U.S. bond issuance in June, but this new partnership takes it a step further. The group is in talks with Nvidia to partner on the AI build-out, according to the Financial Times.