Anthropic · Nvidia · Meta · Wall Street · Goldman Sachs · BBC Technology
Nvidia gets $500bn from major investors to develop AI infrastructure
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Nvidia has teamed up with some of Wall Street's largest banks and investors to raise $500bn (£370bn) in capital for artificial intelligence (AI) infrastructure.
Key facts
- Nvidia has teamed up with some of Wall Street's largest banks and investors to raise $500bn (£370bn) in capital for artificial intelligence (AI) infrastructure
- Compute has become a critical infrastructure asset", Joe Bae and Scott Nuttall, co-chief executives of KKR, said in a joint statement
- Jim Zelter, president of Apollo, a lender which manages more than $1tn in assets, said: "Modern compute has emerged as a scarce, mission-critical asset class
- Anthropic also recently entered into a deal with Macquarie Asset Management and GIC, an investment bank in Singapore, for its own investment in AI infrastructure
Summary
The chipmaker said it had struck deals with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR, and that the investors were for the first time treating AI hardware and infrastructure, often referred to as "compute", as an asset class. "In AI, compute is revenue", Jensen Huang, chief executive of Nvidia, said. The financing will go towards Nvidia's own projects and those being built by its partners. Infrastructure projects backed by this fund will likely include the construction of new data centres to house, operate, and cool miles of stacked computer chips that process AI data and actions.