Nvidia gets $500bn from major banks for AI build out - BBC

Nvidia has partnered with major Wall Street banks and investors — including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR — to raise $500bn (£370bn) in capital for artificial intelligence infrastructure.
CEO Jensen Huang said the deal marks the first time investors are treating AI hardware and infrastructure, known as "compute", as an asset class, stating "In AI, compute is revenue."
The financing will fund Nvidia's own projects and those of its partners, likely including new data centres to house and cool AI chips, and new factories to manufacture the GPUs that power AI systems.
Nearly every major tech and AI company relies on Nvidia's chips, including Google, Meta, Amazon, Microsoft, SpaceX, Tesla, OpenAI and Anthropic, which have collectively spent over $1tn on AI projects in three years.
Demand for Nvidia's chips has driven its stock market value up fivefold in three years, though Rathbones' Jane Sydenham cautioned about whether the mounting investment will earn adequate returns in the future.
KKR co-chief executives Joe Bae and Scott Nuttall called compute "a critical infrastructure asset," while Apollo president Jim Zelter described modern compute as "a scarce, mission-critical asset class."