Apollo Global Management is nearing a $3.4 billion financing deal to support artificial intelligence infrastructure, according to a report by The Information.
The arrangement highlights growing demand for high-performance AI hardware, as companies race to secure scarce computing capacity.
Nvidia’s chips remain central to large-scale AI development, making financing structures increasingly critical for expansion-hungry firms like xAI.
The proposed deal underscores Apollo’s push into AI-linked credit, a fast-growing area for alternative asset managers.
The report cited a person familiar with the matter, noting the transaction is close to finalization but not yet completed.
The news follows Musk’s recent announcement of a deal valuing SpaceX at $1 trillion and xAI at $250 billion, reinforcing investor confidence in his AI ambitions.
