Nvidia gets $500bn from major investors to develop AI infrastructure
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- Nvidia struck deals with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to raise $500bn (£370bn) for AI infrastructure, covering both Nvidia's own projects and partner projects including new data centres and AI chip factories.
- Jensen Huang declared that "in AI, compute is revenue" and said Nvidia is now helping create a new class of productive, investable infrastructure he calls "AI factories."
- Apollo president Jim Zelter called modern compute "a scarce, mission-critical asset class" positioned to drive long-term economic growth — Apollo manages more than $1tn in assets — while KKR co-CEOs Joe Bae and Scott Nuttall warned that "delivery, not ambition, is the hard part."
- Nvidia's market value has risen fivefold in three years as customers including Google, Meta, Amazon, Microsoft, SpaceX, Tesla, OpenAI and Anthropic collectively spent over $1tn on AI projects and infrastructure.
- BlackRock separately struck a deal last month with Meta to finance and take a majority ownership stake in a Texas data centre.
- Anthropic entered a deal with Macquarie Asset Management and GIC to fund Claude's compute needs, saying chatbot demand now "requires significant new compute."
Why it matters: This is the first formal recognition by major Wall Street firms that AI compute is a distinct investable asset class, unlocking $500bn in capital earmarked specifically for AI hardware and infrastructure. Nvidia's customers have already spent over $1tn on AI in three years, giving AI infrastructure a dedicated financing pipeline separate from broader tech investment and accelerating data centre and chip-factory buildouts.
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