Nvidia to Team With Wall Street on $500 Billion Funding Package

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessNvidia to Team With Wall Street on $500 Billion Funding PackageA group of US investment giants are nearing a partnership with Nvidia Corp. on $500 billion in funding for the buildout of AI infrastructure, according to people familiar with the matter.Author of the article:Brian Chappatta and Lynn Doan You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — A group of US investment giants are nearing a partnership with Nvidia Corp. on $500 billion in funding for the buildout of AI infrastructure, according to people familiar with the matter.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountApollo Global Management Inc., Blackstone Inc., BlackRock Inc., Brookfield Asset Management, Goldman Sachs Group Inc. and KKR & Co. are among the firms in talks with Nvidia on the investment, said the people, who asked not to be named because the information isn’t public. A deal may be announced a soon as Monday, they added.Representatives for the firms either declined to comment or didn’t immediately respond to requests for comment. The Financial Times earlier reported on the lending effort. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againNvidia shares extended declines in US trading. They were down 2.2% to $219.01 as of 1:32 p.m. in New York.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 chipmaking giant is inflating demand and valuations across the industry through the circular nature of such agreements. The AI chipmaker has been 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. A deal would help the ChatGPT creator lease capacity at the $500 billion, 10-gigawatt hub that SB Energy, a SoftBank Group Corp. subsidiary, is developing in Ohio, Bloomberg reported last month.Nvidia was also in discussions to finance $350 billion of OpenAI’s purchases of its chips for the project, people familiar with the situation said at the time, asking not to be identified because the talks were private.It wasn’t immediately clear 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 has accelerated its investments and partnerships with tech and AI companies in recent months despite growing concerns about its “circular” deals. In addition to the OpenAI financing talks, the company 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 also made a “substantial” investment in Safe Superintelligence Inc., the AI startup co-founded by former OpenAI chief scientist Ilya Sutskever.—With assistance from Ian King, Preeti Singh, Silla Brush and Allison McNeely.(Updates with additional reporting starting in the first paragraph.)This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.