Nvidia has lined up six of Wall Street's biggest investment firms to help raise more than $500 billion in financing for artificial intelligence infrastructure, the chipmaker and its partners announced Monday, in one of the largest capital-mobilization efforts yet tied to the AI buildout.
The coalition includes Apollo Global Management, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs and KKR, according to The National, which cited Bloomberg reporting on the deal. NBC News reported the firms will create "dedicated pools of capital at significant scale at attractive rates" for Nvidia's customers, with financing structured as debt secured against compute power itself rather than drawn from customers' own balance sheets. Nvidia CEO Jensen Huang said in a CNBC interview that he approached only six firms for the commitment, and all six agreed.
Chips as Collateral
Under the plan, deals will be structured through private offerings and bonds issued by special-purpose entities capable of raising tens of billions of dollars at a time, which would then lease compute capacity to Nvidia's largest customers — hyperscalers, AI labs and enterprises racing to build data centers. Goldman Sachs, the only bank in the coalition, is positioned to lead public debt deals while its asset-management arm, which oversees more than $4 trillion, distributes investment returns. Deals are expected to start reaching the market within months, according to a person familiar with the matter cited by The National.
We are bringing the world's leading long-term capital providers together to independently underwrite AI infrastructure. These financing platforms will help customers access scarce compute at scale, and build the AI factories that will power every industry and country in the age of AI.
Jensen Huang, CEO, Nvidia
BlackRock CEO Larry Fink said on CNBC that the resulting debt would offer "high credit quality" and attractive yields for investors he described as "overinvested in equities," while Goldman Sachs CEO David Solomon called it "a big infrastructure build," adding that "the capital markets are signalling that there's a lot of capital available to support it."
Scrutiny Over Circular Deals
The announcement lands as Nvidia faces growing investor scrutiny over the sprawling, interlocking web of financing arrangements it has struck across the AI sector — deals some critics say inflate demand and valuations through circularity, since Nvidia is effectively helping finance the same customers who then buy its chips. NBC News noted that Big Tech companies are projected to spend more than $730 billion on AI infrastructure this year alone. Nvidia has separately been in talks to back as much as $250 billion of OpenAI's compute leasing at an Ohio data-center hub under development by SoftBank subsidiary SB Energy, and expanded a partnership with South Korea's SK Group worth more than $500 billion in mutual business.
Huang, writing on X, described Nvidia's compute capacity as "an investable infrastructure asset" and said the company itself may provide financing support of "up to 25 percent of an opportunity," while stressing that the bulk of the $500 billion will be third-party capital. Precise terms, individual firm commitments and a full deployment timeline have not been disclosed.
