Nvidia teams with Wall Street giants on $500 billion AI infrastructure financing deal

Wall Street giants partner with Nvidia on $500bn AI financing deal

The world's largest financial groups are working with Nvidia to assemble a $500bn funding package for AI infrastructure development, in one of Wall Street's most ambitious lending efforts to date. A consortium of groups including Apollo Global, Blackstone, BlackRock's Global Infrastructure Partners unit, Brookfield Asset Management, Goldman Sachs and KKR is entering a partnership with Nvidia to invest in the AI build-out, five people briefed on the talks told the FT. The deal could be announced as soon as Monday, the people said. The partnership underscores Nvidia's growing efforts to raise capital for itself and its clients to continue assembling the chips, power production and data centres at the heart of the AI boom. It also shows how Nvidia is building relationships with the giants of the private capital industry, which are collectively preparing to invest trillions of dollars of their insurance, retail and institutional investor assets into AI infrastructure. In recent years, private capital groups such as Apollo and Blackstone have structured AI infrastructure deals to assist companies like Anthropic finance their heavy spending on chips and data centres. Apollo, Blackstone, Brookfield, BlackRock, Goldman and KKR did not immediately respond to requests for comment. Neither did Nvidia respond to requests for comment.

Nvidia teams up with Wall Street asset managers on $500 billion AI infrastructure push

Nvidia is working with some of Wall Street's largest asset management firms on a $500 billion effort to finance artificial intelligence infrastructure, a person familiar with the matter told CNBC Monday. The chipmaker has enlisted Apollo Global Management, Blackstone, BlackRock's Global Infrastructure Partners unit, Brookfield Asset Management, Goldman Sachs and KKR to assemble the capital package, according to the person, who spoke on the condition of anonymity because they were not authorized to speak publicly. An announcement could be made as soon as Monday, the person said. The Financial Times first reported the deal. The move highlights the growing role of private capital in financing the costs of the artificial intelligence boom. For Nvidia, the effort could help its biggest customers secure the financing needed to buy its high-end GPUs, build power-hungry data centers and lock in long-term electricity capacity. Alternative asset managers have been eager to deploy capital into digital infrastructure, tapping institutional and insurance capital to finance projects. Apollo and Blackstone, among others, have already structured debt and equity financing for companies including Anthropic as AI companies deal with large capital expenditure requirements. Representatives for Nvidia, Apollo, Blackstone, Brookfield, BlackRock, Goldman Sachs and KKR did not immediately respond to requests for comment. This story is developing. Please check back for updates.

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

Nvidia has teamed up with some of Wall Street's largest banks to help raise $500bn (£370bn) in capital to develop artificial intelligence (AI) infrastructure. The chipmaker said it had struck deals with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR, and that the banks were for the first time treating AI hardware and infrastructure, often referred to as "compute", as a separate asset class. "In AI, compute is revenue", Jensen Huang, chief executive of Nvidia, said. "We are bringing the world's leading long-term capital providers together to independently underwrite AI infrastructure." The financing will go towards Nvidia's own projects and those being built by its partners. Infrastructure projects backed by this fund will include the construction of new data centres to house, operate, and cool miles of stacked computer chips that process AI data and actions. This will also back new factories to manufacture the AI chips needed to power these systems. "Compute has become a critical infrastructure asset", Joe Bae and Scott Nuttall, co-cheif executives of KKR, said in a joint statement. "As we've scaled our approach to digital infrastructure, we've learned that delivery, not ambition, is the hard part." Essentially every major technology and AI company uses Nvidia's computer chips, or graphics processing units (GPUs), to power their services, AI platforms and AI chatbots. Companies using Nvidia's popular chips or GPUs include Google, Meta, Amazon, Microsoft, SpaceX, Tesla, OpenAI and Anthropic. Such companies have collectively spent over $1 trillion in just three years on AI projects and infrastructure, with much more spending expected. And their demand for Nvidia's chips and services has driven the stock market value of the company up five fold in three years. In a statement on Monday, Huang referred to Nvidia's role as a chip-maker as the company's beginning. "Today, we are helping create a new class of productive, investable infrastructure: AI factories," he said. With a new ability to tap some funding from the banks partnering with Nvidia, such banks will be able to finance more of the AI boom. Jim Zelter, president of Apollo, a lender which manages more than $800 million in assets, said: "Modern compute has emerged as a scarce, mission-critical asset class." It is also "positioned to drive significant long-term economic growth and productivity gains", Zelter added. BlackRock last month entered into an individual deal with Meta to finance and take a majority ownership stake in one data centre in Texas. Anthropic also recently entered into a deal with Macquarie Asset Management and GIC, an investment bank in Singapore, for its own build-out of AI infrastructure. The company did not specify the size of the deal, but said more financing was needed as its popular chatbot Claude had become so popular that the "demand requires significant new compute".

Top Wall Street Firms Reportedly Partnering With Nvidia for $500 Billion AI Investment

Some of the biggest financial firms in the world are reportedly getting ready to pour half a trillion dollars into a deal with Nvidia for AI infrastructure buildout. A consortium of Wall Street firms, including heavy hitters like Blackstone, BlackRock and Goldman Sachs, is working on a deal with Nvidia that would see the firms invest $500 billion in the AI industry, according to a Financial Times report citing six people briefed on the talks. The details of the deal aren't clear, but the FT along with reports from Bloomberg and Reuters all claim it could be announced as early as Monday. Circular dealmaking worries return The report comes on the heels of renewed fears of both Nvidia's alleged circular dealmaking and the eyewatering financial commitments the overall industry is making on the AI infrastructure buildout. Late last month, Nvidia announced a $500 billion deal with South Korean chipmaker SK Hynix. Shortly after that news was made public, various reports claimed that Nvidia would also make a $250 billion deal with OpenAI to help the AI giant finance its massive, power-hungry 10-gigawatt data center project in southern Ohio, likely to be one of the largest data centers in the world when construction finishes in 2028. If that deal materializes, it would be one of Nvidia's biggest financing deals with a customer, per Bloomberg. The $250 billion number would only cover the data center lease and debt, but the chipmaker is also reportedly discussing a separate $350 billion deal to finance AI chip purchases. The back-to-back reports are reigniting fears that Nvidia is weaving a tangled and potentially dangerous web of deal in which a handful of companies with overlapping interests have inked several multibillion-dollar investments among each other, all with the two AI darlings at the center: Nvidia and OpenAI. The financial dependencies could skew demand, concentrate risks and signal instability, experts warn, because if one deal goes down, it could create a domino effect that some say could engulf the entire American economy. Investment deals drawing more intense scrutiny These AI deals first came under intense public scrutiny after a high-profile $100 billion deal between OpenAI and Nvidia was announced in September 2025 (though the deal has failed to materialize and has reportedly been dropped). Investors were also unnerved last month when some AI hyperscalers, which are also Nvidia's largest clients and the major drivers of the AI buildout, reported considerable drops in cash flow in their earnings reports due to the hefty capital expenditures tied to AI infrastructure. Meta's free cash flow dropped almost $8 billion in one year, while Google's free cash flow turned negative for the first time in the tech giant's history. Some fear this could be a sign of recklessness in the market as companies commit huge amounts of cash to building out AI for demand that might not materialize as expected. Nvidia's future, meanwhile, depends in part on the financial health of these partners, since the chipmaker is the primary hardware supplier for their AI infrastructure buildout efforts.

Nvidia lines up Wall Street for a $500bn AI package

Six of the biggest names in private capital are in talks to put $500bn behind Nvidia's AI buildout. Nobody has yet said what the money buys, or who absorbs the loss if the demand never arrives. A group of financial firms is working with Nvidia on a $500bn funding package for AI infrastructure. The group covers Apollo Global Management, Blackstone, BlackRock's Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs and KKR. The Financial Times reported the talks first. Bloomberg confirmed them with people familiar with the matter. A deal could land as early as Monday. The market did not read it as good news. Nvidia shares fell as much as 3.2% on Monday. They traded at $219.01 in the early New York afternoon, down 2.2% on the day. The caveat is the story Almost nothing about the package is settled. Bloomberg's sources could not say which projects or companies the funding would back, or what form it would take. They also could not say whether the $500bn is new money at all. That last point matters more than the headline number. Nvidia has already announced hundreds of billions of dollars of commitments across the AI supply chain this year. A package that repackages existing pledges is a very different object from one that adds fresh capital. BlackRock and KKR declined to comment to Reuters. Nvidia and the other firms did not immediately respond. Nvidia has been carrying the buildout itself For most of this year the chipmaker has financed its own demand. It has been in talks over a $250bn backstop for OpenAI to lease compute at a 10-gigawatt Ohio campus. SoftBank subsidiary SB Energy is developing that site. Separately it has discussed financing around $350bn of OpenAI's chip purchases. It expanded its partnership with South Korea's SK Group to more than $500bn of mutual business. It also made a substantial investment in Ilya Sutskever's Safe Superintelligence. Add it up and the pattern is consistent. Nvidia guarantees the customer, the customer buys the chips, and the revenue lands back on Nvidia's income statement. Why a $500bn deal knocked the shares down That pattern has a name investors do not like. Circular financing describes an arrangement where a supplier funds the buyer that funds the supplier. Critics say it can inflate demand and valuations across a whole sector before anything breaks. Nvidia has heard the charge all year. When it announced $750bn of deals earlier in 2026, its own credit market flinched rather than cheered. Bringing in six outside balance sheets is one answer to that criticism. It spreads the capital load beyond the chipmakers. It also puts independent underwriters between Nvidia and the projects. That answer only works if the underwriting is real. Private credit and infrastructure funds now sit closer to the AI trade than at any point in this cycle. The BIS has already flagged the resemblance to pre-2008 credit structures. Wall Street was already inside the tent None of these firms are new to the sector. Apollo and Blackstone built a $35bn vehicle around Google TPUs. Morgan Stanley arranged a $917m loan secured against Lambda's Nvidia GPUs. BlackRock, Global Infrastructure Partners, Microsoft and MGX launched the AI Infrastructure Partnership in September 2024. It targets $30bn of equity and up to $100bn including debt. Nvidia and xAI joined in March 2025, with Nvidia serving as technical adviser rather than capital partner. Jensen Huang framed that arrangement in broad terms at the time. The global buildout of AI infrastructure, Nvidia's chief executive said, "will benefit every company and country that wants to achieve economic growth and unlock solutions to the world's greatest challenges." A $500bn package would be roughly five times the size of that earlier programme. It would also place Nvidia much closer to the money. The number to watch is not $500bn Big Tech is on track to spend more than $730bn on AI this year. Nvidia itself returned to the US bond market in June. That was its first debt sale since 2021. Against that backdrop, half a trillion dollars of arranged financing is large but not implausible. The open question is narrower and harder. If the data centres get built and the demand does not follow, somebody eats the loss. Nobody outside the room yet knows who. It could be Nvidia, a pension fund, or a private credit investor who was told this was infrastructure.

NVIDIA Partners With Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to Establish AI Compute Infrastructure Financing Platforms to Mobilize Over $500 Billion of Third-Party Capital

These partnerships remain subject to execution of the final agreements. About NVIDIA NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing. About Apollo Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2026, Apollo had approximately $1.05 trillion of assets under management. To learn more, please visit www.apollo.com. About BlackRock BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate About Blackstone Blackstone is the world's largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone's over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram. About Brookfield Brookfield is a leading global investment firm with more than $1 trillion in assets under management. The firm owns and operates high-quality businesses and real assets that provide essential services and form the backbone of the global economy. Brookfield invests on behalf of institutions and individuals around the world across infrastructure, energy, private equity, real estate, and credit. With more than a century of operating experience and a global presence in over 30 countries, Brookfield deploys long-term capital to generate sustainable value for its clients and shareholders. Brookfield Corporation (NYSE: BN, TSX: BN) and Brookfield Asset Management (NYSE: BAM, TSX: BAM) are publicly traded in New York and Toronto. About Goldman Sachs Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com. NVIDIA Forward-Looking Statements Certain statements in this press release including, but not limited to, statements as to: NVIDIA bringing the world's leading long-term capital providers together to independently underwrite AI infrastructure; expectations with respect to demand for AI infrastructures; expectations with NVIDIA's strategic partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR, including the execution of final agreements and the terms and timing of the contemplated partnerships and the benefits of the financial platforms; expectations with respect to growth, performance, availability, demand, and benefits of NVIDIA's products, services and technologies, and related trends and drivers; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections based on management's beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA's reliance on third parties to manufacture, assemble, package and test NVIDIA's products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA's existing products and technologies; market acceptance of NVIDIA's products or NVIDIA's partners' products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA's products or technologies when integrated into systems; NVIDIA's ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. Apollo Forward-Looking Statements This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo's expectations regarding the performance of its business, its liquidity and capital resources and other non-historical statements. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words "believe," "anticipate," "estimate," "expect," "intend" and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to inflation, interest rate fluctuations and market conditions generally, international trade barriers, domestic or international political developments and other geopolitical events, including geopolitical tensions and hostilities, the impact of energy market dislocation, our ability to manage our growth, our ability to operate in highly competitive environments, the performance of the funds we manage, our ability to raise new funds, the variability of our revenues, earnings and cash flow, the accuracy of management's assumptions and estimates, our dependence on certain key personnel, our use of leverage to finance our businesses and investments by the funds we manage, Athene's ability to maintain or improve financial strength ratings, the impact of Athene's reinsurers failing to meet their assumed obligations, Athene's ability to manage its business in a highly regulated industry, changes in our regulatory environment and tax status, and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled "Risk Factors" in our annual report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 25, 2026, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund. BlackRock Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, including with respect to the potential strategic partnership referred to herein. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" and similar expressions. BlackRock caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time and may contain information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any projections or forecasts made will come to pass. Forward-looking statements speak only as of the date they are made, and the parties assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. BlackRock has previously disclosed risk factors in its Securities and Exchange Commission ("SEC") reports. These risk factors and those identified elsewhere in this release, among others, could cause actual results to differ materially from forward-looking statements or historical performance. BlackRock's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the SEC, accessible on the SEC's website at www.sec.gov and on BlackRock's website, discuss certain of these factors in more detail and identify additional factors that can affect forward-looking statements. The information contained on BlackRock's website is not a part of this press release, and therefore, is not incorporated herein by reference. Blackstone Forward-Looking Statements This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect Blackstone Inc.'s current views with respect to, among other things, its operations and the potential strategic partnership referred to herein. You can identify these forward-looking statements by the use of words such as "outlook," "indicator," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "scheduled," "estimates," "anticipates," "opportunity," "leads," "forecast," "possible" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Blackstone Inc. believe these factors include but are not limited to those described under the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in its periodic filings with the United States Securities and Exchange Commission ("SEC"), which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Blackstone Inc.'s periodic filings. The forward-looking statements speak only as of the date of this report, and Blackstone Inc. undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. Brookfield Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of other relevant securities legislation, including applicable securities laws in Canada, which reflect our current views with respect to, among other things, our operations and financial performance (collectively, "forward-looking statements"). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management's current estimates, beliefs and assumptions and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "strive", "will", "may" and "should" and similar expressions. In particular, the forward-looking statements contained in this press release include statements referring to the impact of the partnership between Brookfield and NVIDIA. Although Brookfield believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, certain factors, risks and uncertainties, which are described from time to time in our documents filed with the securities regulators in the United States and Canada, not presently known to Brookfield or that that Brookfield currently believes are not material, could cause actual results or events to differ materially from those contemplated or implied by forward-looking statements. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to Brookfield as of the date of this press release. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise. Goldman Sachs Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only Goldman Sachs' beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside Goldman Sachs' control. It is possible that Goldman Sachs' actual results may differ, possibly materially, from the anticipated results indicated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect Goldman Sachs's future results, see "Risk Factors" in Part I, Item 1A of Goldman Sachs' Annual Report on Form 10-K for the year ended December 31, 2025. Forward-looking statements include statements about the timing, profitability, benefits and other prospective aspects of business initiatives (including via partnerships) and the achievability of targets and goals, and statements about the opportunities presented by artificial intelligence (including potential AI infrastructure buildout and the need for capital to fund that buildout). Statements about the timing, profitability, benefits and other prospective aspects of business initiatives (including via partnerships and with respect to the opportunities presented by AI, such as the need for and the ability to create compute financing platforms at global scale) are based on Goldman Sachs' current expectations regarding its ability to effectively implement those initiatives and may change, possibly materially, from what is currently expected. See "Forward-Looking Statements" in Part I, Item 2 "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Goldman Sachs' Quarterly Report on Form 10-Q for the quarter ended Jue 30, 2026 for further information about forward-looking statements. KKR Forward-Looking Statements This press release contains certain forward-looking statements pertaining to KKR, including with respect to the investment funds, and vehicles and accounts managed by KKR and Global Atlantic Financial Group. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, including with respect to KKR's involvement in the proposed transactions described herein and the transactions' effect on our business. You can identify these forward-looking statements by the use of words such as "opportunity," "outlook," "believe," "think," "expect," "feel," "potential," "continue," "may," "should," "seek," "approximately," "predict," "intend," "will," "plan," "estimate," "anticipate," "visibility," "positioned," "path to," "conviction," "enables," the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR's beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law. Information about factors affecting KKR, including a description of risks that should be considered when making a decision to purchase or sell any securities of KKR, can be found in KKR & Co. Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, and its other filings with the SEC, which are available at www.sec.gov.

Nvidia, Wall Street partner on $500B AI financing

Why it matters: The gargantuan financing package illustrates the mushrooming scope and costs of the infrastructure needed to keep the AI economy humming. The big picture: Nvidia announced Monday that it is partnering with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to assemble more than $500 billion in financing at "attractive rates" for "the buildout of AI infrastructure over time." * The move comes after recent reports that Nvidia was in talks to guarantee financing for a quarter-trillion-dollar AI data center for OpenAI, one of its key customers. It was not immediately clear if the OpenAI backstop was part of this deal. Friction point: The move could reignite fears about the circular nature of AI financing -- in which a supplier like Nvidia provides financing or investment capital to some of its major customers. * The fear is that if one major company runs into trouble, it could have a ripple effect through the AI ecosystem. What they're saying: Nvidia CEO Jensen Huang -- who has dismissed fears of a circular AI bubble -- said in a statement that the financing deal is necessary to "help customers access scarce compute at scale."

Nvidia partners with Wall Street giants to raise $500 billion for AI buildout

Nvidia said on Monday it has partnered with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital for AI infrastructure. The move highlights how surging demand for AI computing capacity is drawing institutional investors, as governments, companies and startups race to build out data centers to support AI workloads. Big Tech companies have signaled that spending on AI would not slow down, with combined outlays set to surpass $730 billion this year. Nvidia signed memorandums of understanding with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR for the financing platforms. The initiative is intended to broaden access to Nvidia-based infrastructure among frontier AI developers, enterprises, governments and cloud providers, while creating longer-duration, usage-linked investment opportunities for large asset managers and private capital firms. "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," Nvidia CEO Jensen Huang said. Nvidia said the arrangements would "create dedicated pools of capital at significant scale at attractive rates" for its customers. The company did not disclose the financial terms, investment commitments by individual firms or a timetable for deploying the planned $500 billion. The Financial Times had reported the development first on Monday, later confirmed by Reuters.

Nvidia Forms Financial Partnerships to Fuel AI Factory Boom | PYMNTS.com

The firms with which the AI chip manufacturer has announced these strategic partnerships are Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR. The partnerships remain subject to the execution of final agreements, according to the release. The compute financing platforms will be established at global scale, and the partnerships will see Nvidia work with the firms to create dedicated pools of capital at scale at attractive rates for Nvidia customers, the release said. Nvidia Founder and CEO Jensen Huang said in the release that AI factories are "a new class of productive, investable architecture," that in AI, "compute is revenue" and that Nvidia compute is suited for this role because it is broadly adopted, flexible, fungible and transferable. "That is why we are bringing the world's leading long-term capital providers together to independently underwrite AI infrastructure," Huang said. "These financing platforms will help customers access scare compute at scale and build the DSX AI factories that will power every industry and country in the age of AI." Huang said during a May earnings call that AI infrastructure spending could reach $3 trillion to $4 trillionannually by the end of the decade. Hyperscaler capital expenditure on AI alone is forecast to exceed $1 trillionin 2027. "Compute is revenues. Compute is profit," Huang said during the call. Nvidia said in its State of AI reports released in March that AI is delivering measurable financial gains for businesses. The reports found that 88% of organizations said AI has increased their annual revenue, while 87% reported cost reductions. It was reported in July that the five companies spending the most on AI data centers in the United States doubled their debt load over the past five years to finance their efforts. In total, Alphabet, Amazon, Meta, Microsoft and Oracle added about $350 billion to their debt obligations. It was reported Wednesday (Aug. 5) that Apollo named a new leader to head AI-related deals as part of a larger strategy to capture more digital infrastructure deals.

Nvidia, Wall Street firms partner on US$500 billion AI financing venture, source says

A group of financial firms, including Apollo Global and Blackstone, is working with Nvidia to put together a US$500 billion funding package for AI infrastructure development, a person familiar with the matter told Reuters on Monday. Nvidia's shares fell over 3 per cent in afternoon trading. The tie-up highlights Nvidia's efforts to raise capital for the chips, power generation and data centers underpinning the AI boom. Big Tech companies have signaled that spending on AI would not slow down, with combined outlays set to surpass US$730 billion this year. The group, which also includes BlackRock's Global Infrastructure Partners, Brookfield Asset Management BAM.N, Goldman Sachs and KKR, is in talks to partner with Nvidia on the AI build-out, according to the Financial Times, which reported the development first. BlackRock and KKR declined to comment when contacted by Reuters, while Nvidia and the other companies did not immediately respond to requests. Nvidia said in June it would raise US$25 billion through a U.S. bond issuance, as it taps the debt market to increase liquidity for the first time since 2021. (Reporting by Isla Binnie in New York and Juby Babu in Mexico City; Editing by Jonathan Ananda and Shinjini Ganguli)

Nvidia and Wall Street prepare $500bn financing plan for AI

The initiative is meant to marshal the capital needed to finance chips, data centers and power-generation capacity that are essential to AI's expansion. It comes as technology giants continue to accelerate investment in the field, with combined spending expected to top $730bn this year. The project remains at the discussion stage, and its precise terms have not been disclosed. Nvidia had already stepped up its funding strategy by announcing in June a $25bn bond sale in the United States, marking its return to the debt market to boost liquidity for the first time since 2021.