Nvidia works with Apollo, Blackstone and peers on $500 billion AI infrastructure package

A group of financial firms including Apollo Global and Blackstone is working with Nvidia on a $500 billion funding package for AI infrastructure development, a person familiar with the matter told Reuters on Monday, with the Financial Times first reporting the talks. Reuters said the group also includes BlackRock's Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs and KKR, and that the effort highlights Nvidia's push to raise capital for chips, power generation and data centers behind the AI build-out. Nvidia shares fell over 3% in afternoon trading. Big Tech companies have signaled that AI spending would not slow, with combined outlays set to surpass $730 billion this year, Reuters reported. BlackRock and KKR declined to comment when contacted by Reuters, while Nvidia and the other companies did not immediately respond. Nvidia said in June it would raise $25 billion through a U.S. bond issuance, tapping the debt market to increase liquidity for the first time since 2021.