Nvidia
In total, they are expected to raise more than $500 billion in third-party capital. Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR are participating in the initiative, according to the NVIDIA Newsroom.
The agreements were announced on August 10. According to NVIDIA’s plan, the new financial platforms will channel long-term institutional capital toward building computing infrastructure for AI developers, enterprises, cloud providers, and AI labs.
Computing Power Is Becoming an Investment Asset
NVIDIA now views computing infrastructure not only as a set of hardware required to run AI models, but also as a standalone investment asset.
“We started out making chips, and today we’re helping to create a new class of high-performance, investment-attractive infrastructure—AI factories,” said NVIDIA Founder and CEO Jensen Huang. He added: “In the field of artificial intelligence, computing equals revenue.”
Under the agreements, NVIDIA and six financial partners intend to establish specialized capital pools. These are designed to provide NVIDIA’s customers with access to financing on a significant scale and under attractive terms. However, the final agreements have yet to be concluded, the company noted in a statement.
A key feature of the new model is that financing will be tied not only to the construction of data centers but also to the long-term use of computing power.
BlackRock President Larry Fink called the upcoming investments unprecedented in scale. According to him, the partnership is intended to link long-term capital with the infrastructure companies need to grow, as noted by the NVIDIA Newsroom.
The AI race requires ever-more capital
The new model reflects a shift in the economics of artificial intelligence. In the early stages of generative AI development, the main investors were the technology companies themselves and specialized funds. Now, the development of computing infrastructure is increasingly attracting the interest of large asset managers and private equity firms.
According to Reuters, NVIDIA expects its own participation in these deals to reach $125 billion, or roughly a quarter of the target funding amount. However, specific timelines for platform deployment and final financial terms have not yet been disclosed.
Reuters also notes that major tech companies could allocate more than $730 billion to data center development in 2026.
For the market, this signals a potential shift toward a new model for AI financing: computing power is becoming infrastructure that can be built using long-term institutional capital, rather than solely through the balance sheets of technology companies.
