$500 bn AI boom: Nvidia, Wall Street giants join hands for chip, data centre push

Nvidia is turning to some of the world’s biggest financial groups to help fund the next phase of the artificial intelligence boom. Six Wall Street giants have joined the effort, which could raise more than $500 billion for AI infrastructure.The firms: Apollo Global Management, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs and KKR have signed memorandums of understanding with Nvidia to develop financing platforms for companies buying its hardware and building data centres, Nvidia said on Monday.The proposed pools of capital will support hyperscalers, frontier AI labs and enterprises, with financing aimed at Nvidia’s chips as well as the data centres needed to run them. According to a FT report, the agreement is still subject to final terms.Why Nvidia is turning to Wall Street for AI fundingThe move represents Nvidia’s effort to bring institutional credit, insurance money and private capital into the financing of AI computing infrastructure.