Nvidia Partners With Wall Street Firms to Raise $500 Billion
Nvidia reached an agreement with six major Wall Street firms to raise $500 billion for the expansion of AI infrastructure.
Major technology and financial firms are mobilizing massive capital to expand artificial intelligence infrastructure. Nvidia reached an agreement with six Wall Street firms—Apollo Global Management, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs, and KKR—to raise $500 billion.
The financing will be structured through various vehicles to demonstrate the industry's financial capacity to build necessary data centers. The agreement allows for the potential of total commitments to exceed $500 billion over time.
This initiative follows other significant funding activities, including Nvidia's discussions with OpenAI regarding a $250 billion backstop for a data-center project and a separate partnership between Meta Platforms and BlackRock for off-balance-sheet financing of a data center in Texas.
Keep reading in the app
The full story and every source, free in the app.
Coming soonGoogle Play