Nvidia Joins Wall Street Firms for $500 Billion Artificial Intelligence Investment Venture

Nvidia Joins Wall Street Firms for $500 Billion Artificial Intelligence Investment Venture

Aug 10 (Reuters) – A group of ​financial firms, including Apollo Global and Blackstone  ‌is working with Nvidia to put together a $500 billion funding package for AI infrastructure development, a person familiar ​with the matter told Reuters on Monday.

Nvidia’s ​shares fell over 3% in afternoon trading.

The ⁠tie-up highlights Nvidia’s efforts to raise capital for ​the chips, power generation and data centers underpinning ​the AI boom.

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Big Tech companies have signaled that spending on AI would not slow down, with combined outlays ​set to surpass $730 billion this year.

The group, which ​also includes BlackRock’s Global Infrastructure Partners, Brookfield Asset Management  Goldman ‌Sachs  ⁠and KKR  is in talks to partner with Nvidia on the AI build-out, according to the Financial Times, which reported the development first.

BlackRock ​and KKR declined ​to comment ⁠when contacted by Reuters, while Nvidia and the other companies did ​not immediately respond to requests.

Nvidia said in June it ​would ⁠raise $25 billion through a U.S. bond issuance, as it taps the debt market to increase liquidity ⁠for ​the first time since 2021.