NVIDIA assembles $500 billion AI infrastructure package with Apollo, BlackRock, Goldman Sachs

NVIDIA is in talks with major Wall Street investors to assemble a $500 billion financing package for artificial intelligence projects, according to Reuters, citing the Financial Times. The group includes Apollo Global, Blackstone, BlackRock's Global Infrastructure Partners unit, Brookfield Asset Management, Goldman Sachs, and KKR. NVIDIA shares fell more than 3% after the report was published.

The move signals that capital requirements for AI infrastructure are growing faster than any single player can fund on its own. Combined AI spending by big tech companies could surpass $730 billion this year alone. Leading semiconductor firms and AI infrastructure operators are posting record revenue while simultaneously raising fresh capital for future projects — confirming that demand expectations for the coming years run well ahead of current capacity.

In June, NVIDIA tapped the debt market with a $25 billion bond issuance, its first since 2021. In July, reports emerged that the company was in talks to provide roughly $250 billion in financing guarantees for OpenAI's planned data center campus in southern Ohio, and to help fund $350 billion in chip purchases for OpenAI.

Meanwhile, Intel announced a $15 billion underwritten public offering of common stock to fund its foundry expansion — a significant capital raise for a company in the middle of an expensive manufacturing transformation.

TSMC reported record July revenue of NT$467.58 billion (about $14.49 billion), up 5.6% from June and 44.7% year over year. The company is already selling essentially all available wafer capacity, so the revenue increase reflects rising customer commitments and pricing rather than idle or new capacity coming online.