Nvidia plans up to $500 billion in AI infrastructure deals

Nvidia is prepared to channel up to $500 billion (about 10.52 trillion Czech crowns) into developing artificial intelligence infrastructure — more than four times Czechia's annual budget. To do so, the chipmaker has teamed up with some of Wall Street's biggest players: BlackRock, Goldman Sachs, KKR and Apollo, as well as Blackstone and Brookfield.

According to Nvidia CEO Jensen Huang, the companies have agreed to jointly raise capital for projects tied to AI infrastructure. “In the age of artificial intelligence, computing power is income,” he said, adding that the alliance's goal is to bring together the world's largest providers of long-term capital to finance such projects separately.

The money will go both to Nvidia's own projects and to partners' infrastructure — above all to building new data centers capable of cooling and running vast arrays of chips for AI workloads. Some of the capital will also fund new factories to boost AI chip output and meet growing customer demand.

KKR co-founders Joe Bae and Scott Nuttall called computing power a “key infrastructure asset,” noting that the hardest part isn't ambition but execution. Apollo president Jim Zelter, whose firm manages more than a trillion dollars in assets, called computing power a “rare and strategically critical asset class” capable of driving global economic growth.

For Nvidia, the deal marks another step in transforming its business: the company no longer wants to be just a chip supplier but aims to help build the entire infrastructure for AI development. Huang called chipmaking merely “the beginning,” stressing that the company is creating “a new class of productive infrastructure — AI factories” that can now be invested in.

Demand for Nvidia's computing power is growing rapidly: the company's chips are used by nearly every major tech and AI player — Google, Meta, Amazon, Microsoft, SpaceX, Tesla, OpenAI and Anthropic. Over the past three years these companies have together poured more than a trillion dollars into AI projects and infrastructure, while Nvidia's own market capitalization has grown roughly fivefold over the same period.

Nvidia isn't alone in seeking new financing arrangements: BlackRock recently struck a separate deal with Meta to finance a data center in Texas, while Anthropic has reached an agreement with Macquarie Asset Management and Singapore's GIC fund, without disclosing the deal's value but warning that even more capital will be needed.

By the Around Prague newsroom