Nvidia said August 10 it has signed agreements with six major financial firms — Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR — to build financing platforms aimed at mobilizing more than $500 billion in third-party capital for AI infrastructure projects.
Under the memorandums of understanding, each firm will independently assemble and deploy its own pool of capital “at attractive rates” for Nvidia’s customers, the company said. The agreements are non-binding and subject to final contracts, with no completion date disclosed.
How the financing would work
The platforms would treat Nvidia’s graphics processing units as collateral, similar to how lenders back energy plants or commercial real estate. Nvidia argues the approach is justified by its chips’ “lowest token cost, highest revenue and longest life,” an advantage it says is extended further through ongoing CUDA software updates. The capital pools are intended to benefit frontier AI labs, enterprises and AI cloud providers looking to expand computing capacity.
“In AI, compute is revenue,” Nvidia CEO Jensen Huang said in a statement announcing the plan. BlackRock CEO Larry Fink said the partnership “brings together Nvidia’s leadership in accelerated computing with BlackRock’s ability to connect long-term capital to essential infrastructure.”
Apollo manages roughly $1.05 trillion in assets as of June 30, and Blackstone oversees more than $1.3 trillion, giving the initiative access to some of the deepest capital pools in finance.
A second $500 billion deal
The plan is separate from Nvidia’s earlier $500 billion infrastructure partnership with South Korea’s SK Group — a reminder of how routinely Nvidia is now assembling financing on a scale once reserved for national infrastructure projects.
Financing structure draws scrutiny
The announcement comes as analysts increasingly scrutinize how AI companies and their investors are financing the current buildout, warning that heavy reliance on vendor-linked, asset-backed lending could leave the industry exposed if AI revenue growth slows. Nvidia and its partners did not address those concerns in the announcement.