Apollo Secures $3.4B Loan for Nvidia Chip Purchases for xAI

Apollo Global Management is finalizing a $3.4 billion loan to finance the acquisition of Nvidia chips. These chips are intended for leasing to Elon Musk’s artificial intelligence venture, xAI. The deal underscores the growing demand for advanced computing resources in AI development, with Nvidia’s technology playing a crucial role in powering AI applications.