Apollo Global Management is close to finalising a roughly $3.4bn loan to an investment vehicle that plans to purchase advanced chips from Nvidia and lease the hardware to xAI, according to a report by The Information.
The financing, which could be completed as soon as this week, is reportedly being arranged by Valor Equity Partners. The structure would allow the vehicle to acquire high-performance computing equipment and provide capacity to xAI under a leasing model.
Leasing chips and compute in...
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