Nvidia links with Wall Street firms for $500bn AI financing deal

Apollo, BlackRock, Goldman Sachs and KKR among those working with chipmaker to fund infrastructure Nvidia ⁠has struck a deal with six large Wall Street firms to raise ⁠more than $500bn (£370bn) to fund the datacentres, chip factories and power stations needed to fuel the artificial intelligence boom. The Nvidia chief executive, Jensen Huang, said on X that it marked “a major milestone for Nvidia and the AI industry”, as he posted a photo of himself smiling and giving a thumbs up alongside finance bosses involved in the deal, including the head of Goldman Sachs, David Solomon. He confirmed that Nvidia, which has a market value of $5.3tn, had signed memorandums of understanding with Goldman, Apollo, BlackRock, Blackstone, Brookfield and KKR to offer funding for what the industry calls “compute”, referring to hardware such as datacentres and chips that are used to run train and build AI. “Many great AI companies, enterprises and AI clouds have demand for compute but do not yet have access to financing at the scale or cost required to build quickly,” Huang said, adding that the funding “will make AI factories more accessible to the companies, industries and nations building the future”