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William Cohan explains that regulatory limits under the Dodd-Frank Act forced traditional banks to move long-term loans off their balance sheets. This policy vacuum allowed private credit providers like Apollo, Blackstone, and KKR to dominate the corporate lending space.
Global financial institutions actively finance these GPU buildouts. Gavin Baker notes that firms like Blackstone, KKR, and Apollo extend low-cost capital because the useful life of Nvidia chips keeps extending.
Nvidia launched a 500 billion dollar financing platform with Apollo, Blackstone, and BlackRock to fund data center buildouts. Under the arrangement, Nvidia GPUs serve as loan collateral, reducing direct credit risks for Nvidia during potential market downturns.
Wall Street firms, including Apollo and Blackstone, are partnering with Nvidia on a historic $500 billion financing initiative for data center expansion. This massive capital wave heightens systemic exposure to private credit if data center demand falters.
Anthropic is building an in-house chip design team and considering Samsung as a manufacturing partner. To fund its massive compute needs, Anthropic is also negotiating with Blackstone to issue billions in debt to secure Google Tensor Processing Units.
Broadcom, with Blackstone and Apollo, established a $35 billion fund to finance 20 gigawatts of AI compute capacity by 2028. This partnership aims to provide stable capital for long-term compute buildout, with the first project supporting Anthropic.
Complex fund structures, like Blackstone’s hundreds of interlinked entities with unique profit allocations, make ledger construction difficult. Traditional migrations could take 24 months, but Hanover Park’s agents completed one for a venture fund in six days.
Jason Calacanis notes Blackstone purchased Hamilton Island for 1.2 billion Australian dollars, roughly $804 million US.