Nvidia to Team With Wall Street on $500 Billion Package, FT Says

(Bloomberg) -- A group of US investment giants are partnering with Nvidia Corp. on $500 billion in funding for AI infrastructure projects, the Financial Times reported.

Apollo Global Management Inc., Blackstone Inc., BlackRock Inc.'s Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs Group Inc. and KKR & Co. are among the firms in talks with Nvidia on a deal to invest in the AI buildout, the Financial Times reported, citing unidentified sources. The deal may be announced as soon as Monday, the Times said.

The named firms didn't respond to requests from the Times for comment. Nvidia didn't immediately respond to a request for comment. The company's shares fell by as much as 3.2%.

Nvidia has already inked hundreds of billions of dollars worth of deals with companies across the AI ecosystem, stoking concerns from some investors that the chips giant is inflating demand and valuations across the industry through the circular nature of such agreements.

The company just last month expanded a partnership with South Korean conglomerate SK Group and said the companies will be doing more than $500 billion in business with each other. It was also in talks to backstop as much as $250 billion to help OpenAI lease computing power from a US data center project in what would be among the chipmaker's biggest financing deals with a customer.

The Financial Times report didn't detail which projects or companies the funding would back, the nature of the funding or whether the $500 billion represented new commitments or already existing ones.

Nvidia said last month it had made a "substantial" investment in Safe Superintelligence Inc., the AI startup co-founded by former OpenAI chief scientist Ilya Sutskever. And it was in discussions to finance $350 billion of OpenAI's purchases of its chips for the US project.