Nvidia taps Wall Street for a half-trillion dollars to fuel global AI infrastructure buildout
Some of Wall Street’s biggest financial firms are partnering with Nvidia Corp. to pour a half-trillion dollars of funding into the artificial intelligence industry’s massive infrastructure buildout.
Nvidia said today it has struck deals with Apollo Global Management Inc., BlackRock Inc., Blackstone Inc., Brookfield Corp., The Goldman Sachs The Goldman Sachs Group and KKR & Co. Inc. For the first time, those investors are treating AI hardware and infrastructure as an asset class like stocks, bonds and commodities, the chipmaker added.
“In AI, compute is revenue,” said Nvidia Chief Executive Jensen Huang. “We are bringing the world’s leading long-term capital providers together to independently underwrite AI infrastructure.”
Nvidia said the funds from today’s deals will go towards both its own projects and also those of its partners. Some of the projects backed by the fund will include the construction of new data centers needed to house, operate and maintain servers filled with hundreds of thousands of Nvidia’s graphics processing units, which are widely used to process AI workloads. The money will also be used to back new manufacturing facilities to produce those chips in order to meet growing customer demand.
