Apollo nears $3.4B financing to buy Nvidia chips and lease them to xAI, report says
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Apollo Global Management is close to arranging a roughly $3.4 billion loan to back an investment vehicle that would purchase Nvidia chips and lease them to xAI, according to a report cited by Reuters.
The structure reflects a broader shift toward leasing compute capacity instead of buying hardware outright, allowing AI firms to scale faster as spending on chips and data centers continues to surge. Reuters said Valor Equity Partners is arranging the financing.
Reuters added that Apollo, xAI and Nvidia did not immediately comment on the reported deal.
