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Jensen Huang, chief executive officer of Nvidia Corp., speaks to members of the media following the company's "Japan AI Ecosystem" reception in Tokyo, Japan, on Thursday, July 16, 2026. Kiyoshi Ota | Bloomberg | Getty Images
The first three-plus years of the artificial intelligence buildout has been paid for through record amounts of equity and debt issued by the world's leading tech companies, some of whom are spending so much of their existing capital that they've turned cash-flow negative. Nvidia CEO Jensen Huang just revealed what he expects to be the next phase of financing, backed not by corporate balance sheets, but by Wall Street's top power brokers. In an interview with CNBC on Monday, Huang called his plan a "big concept," unveiling it on camera alongside leaders from Goldman Sachs , BlackRock , Blackstone , KKR , Apollo and Brookfield . Together, those firms say they're willing to raise $500 billion, and potentially more, for the construction and buildout of new AI factories, as chipmakers and hyperscalers race to meet seemingly endless demand. Huang and his big-money partners, one by one, described what they view as a fundamental shift in the tech industry: AI infrastructure has become a new asset class. "These systems are not like our PCs, not like our phones," Huang told CNBC's Becky Quick. "These are revenue-generating assets now. They're productive, they're long lived, they're fungible, they're flexible."
The discussion was thin on specifics as far as the types of borrowers that will emerge, what interest rates will look like, where the facilities will be constructed and when it will all kick off. Their joint press release said the companies had signed memos of understanding, with no reference to any contracts. The details matter. Almost 11 months ago, Nvidia announced a partnership to invest up to $100 billion in OpenAI as part of a plan to build out data centers requiring a combined 10 gigawatts of power. That investment never materialized, but Nvidia contributed $30 billion to the record-breaking funding round that OpenAI closed earlier this year. Monday's announcement struck a different tone, with the companies collectively pushing the message that money won't be the problem as the AI buildout hits what McKinsey expects will be $7 trillion in global outlays by the end of the decade.
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