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Wall Street investors and banks raise $500bn for AI compute projects
The capital is intended to back new data centers and chip manufacturing tied to AI infrastructure needs, alongside Nvidia’s own initiatives.
Nvidia has teamed with major banks and investors to raise $500 billion for artificial intelligence infrastructure focused on so called compute, capital described as an asset class for AI hardware and operating systems. BBC Business reports the financing includes deals with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR.
The companies said the fund will support both Nvidia-led projects and infrastructure built by partners, with a likely emphasis on constructing new data centers that can house, operate, and cool large stacks of computer chips used for processing AI data and actions.
BBC Business also reports the financing will back additional factories to manufacture AI chips needed to power those systems and increase availability to buyers, framing compute as critical infrastructure.
The outlet notes that most major technology and AI companies rely on Nvidia GPUs, and that such firms have collectively spent more than $1 trillion on AI projects and infrastructure over the past three years. Nvidia CEO Jensen Huang said, in remarks carried by BBC Business, that in AI compute is revenue and that the effort brings long term capital providers together to underwrite AI infrastructure.