3 months ago
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Apollo Global Management is adjacent to finalising a astir $3.4 cardinal loan to an concern conveyance that plans to bargain Nvidia chips and lease them to Elon Musk’s xAI, The Information reported connected Monday, citing a idiosyncratic familiar with the matter.
Less than a week ago, Musk announced that SpaceX acquired the artificial intelligence institution he besides leads successful a woody that values the rocket and outer institution at $1 trillion and the AI outfit astatine $250 billion.
Big tech companies are expected to walk much than $600 cardinal this twelvemonth to bargain advanced chips and physique retired monolithic information centres needed to deploy and bid AI systems.
The concern could beryllium finalised arsenic soon arsenic this week and Valor Equity Partners, a longtime capitalist successful Musk’s companies, is arranging the deal, the report said.
SpaceX, Apollo and xAI did not instantly respond to Reuters requests for comment.
