图片帖 08/11 08:02

[图片OCR]
Wall Street giants partner with Nvidia on
'$500bn Al financing deal

Sooo Bea AT ML at

Apala Blackstone and Goldman Sachs ae among groups working
with ehipmaker to raise capital for data centre Boom

BIB CApolio), ‘RE Blackstone) AIMEE (Goldman Sachs)
等机构正与这家芯片制造商合作，为数据中心热潮筹集资金

‘The world’s largest financial groups are working with Nvidia
to assemble a funding package of more than $500bn for AI
infrastructure development, in one of Wall Stret’s most
ambitious lending effort to date.

全球最大的金融集团正与 Nvidia 合作，筹集超过

5000 亿美元的资金包，用于人工智能基础设施建设-
RRERES LMM OMAR —,

Aconsortium of groups including Apollo Global, Blackstone,
BlackRock, Brookfield Asset Management, Goldman Sachs
‘and KKR is entering a partnership with Nvidia to invest in the
ALDuild-out.

Hi Apollo Global, Blackstone, BlackRock,
Brookfield Asset Management, Goldman
Sachs 和 KKR 等机构组成的财团正与 Nvidia 建立合
作伙伴关系，共同投资人工智能领域的扩建

Shares in the chipmaker fell about .1 per cent on Monday
after the FT first reported on the arrangement, erasing nearly
‘$60bn in market capitalisation. The stock ended the day 2.9
per cent lower.

在《金融时报》率先报道该协议后，这家芯片制造商的
股价在周一跌约 1.1%, HMRI 600 亿美元。该股
当日收盘下跌 2.9%。

Nvidia said on Monday afternoon that it has signed
‘memorandums of understanding with the six Wall treet
firms to “mobilise over $500bn of third-party capital forthe
‘build-out of Al infrastructure over time”.

Nvidia 周一下午表示，已与这六家华尔街机构签署访
解备忘录，旨在“随着时间的推移，动员超过 5ooo 亿
美元的第三方资本用于人工智能基础设施建设"。

Under the deal, which is still subject to final agreement, the
‘firms will create dedicated pools of capital to finance Nvidia's
Al ambitions “at attractive rates for Nvidia customers”.

根据该协议 (仍需达成最终协议) ，这些公司将创建专

项资金池，以“对 Nvidia 客户具有吸引力的利率"为
Nvidia 的人工智能雄心提供融资-

‘The partnership underscores Nvidia's growing efforts to
cultivate ties with Wall Street as a source of capital for itself
and it

ents to continue assembling the chips, power
production and data centres atthe heart of the AI boom,

这一合作伙伴关系凸显了 Nvidia 正日益努力加强与华
尔街的联系，将其作为自身及客户的资金来源，以持续
构建处于人工智能热潮核心的芯片、电力生产和数据中
心。

“We continue tobe enormous investors globally across the
Nvidia ecosystem, and this announcement further
underscores our confidence in their platform and the future of
AT infrastructure,” said Jon Gray, president and chief
‘operating officer of Blackstone.

“我们继续在全球范围内对 Nvidia 生态系统进行巨额
投资，这一公告进一步月显了我们对其平台以及AI 基
础设施未来的信心，"Blackstone 总裁妆首席运营官
Jon Gray 表示。

Nvidia said the financing agreement was the first ofits kind
‘and would enable “AI infrastructure build-out across Nvidia's
‘ecosystem, including leading frontier AI labs, enterprises and
Aldlouds".

Nvidia 表示，该融资协议沿属首创，将助力“整个
Nvidia 生态系统的 AI 基础设施建设，包括领先的前
沿 AI实验室、企业和 AI 云"。

Webeganby building chips; today, we are helping ereate a
new class of productive, investable infrastructure: AI
factories

Jensen Huang, founder and chief executive of
Nvidia, said in a news release on Monday afternoon.

“我们从制造芯片起步; 如今，我们正在帮助创建一种
新型的、具有生产力和投资价值的基础设施: AI 工
1, "Nvidia 创始人兼首席执行官 Jensen Huang 在
周一下午的新闻稿中表示。

‘The $5.26tn company has position

fat the centre ofthe
‘Al boom, providing chips, infrastructure and software toa
‘wide array of partners developing the technology. Nvidia's
_graphies processing units, or GPUs, underpin most of the

这家市值 5.26 万亿美元的公司已将自己置于 AI 热潮
的中心，为开发该技术的众多合作伙伴提供芯片、基础
设施和软件。Nvidia 的图形处理器 (GPU) 为当今美
国大多数领先的 AI 模型提供了底层支持。

‘The chipmaker often provides financial backing to help its AT
partners raise debt in capital markets, which helps boost
Nvidia's own revenue. However, the circular nature of such
‘transactions has raised concerns about concentrated risks in
the sector.

这家芯片制造商经党提供财务支持，帮助其人工智能合
作伙伴在资本市场筹集债务，这有助于提升英伟达自身
的收入。然而，此类交易的循环性质引发了人们对该行
PURPA.

Separately, Nvidia was in talks to provide a massive guarantee
fora 10-gigawatt data centre project in Ohio leased to
OpenAL according toa person familiar withthe matter.

据知情人士透露，英传达还在洽谈为俄记介州一个租赁
给 OpenAL) 10 吉瓦数据中心项目提供巨额担保。

‘ii shares sip company fnalses dea for $500bn fanang

It also shows how Nvidia is building relationships withthe
slants ofthe private capital industry, which are collectively
preparing to inves trillions of dollars of

jr insurance, retal
and institutional investor assets into Al infrastructure

这也表了明英伟达正在与私募资本行业的巨头建立关系，
这些巨头正集体准备将其数万亿美元的保险、零售和机
构投资者资产投入到人工智能基础设施中

In recent years, private capital groups such as Apollo and
Blackstone have assembled AI infrastructure deals to assist
‘companies including Anthropic finance their heavy spending
on chips and data centres. They have also pioneered the
creation of multibillion-dollar, investment-grade-rated
financings for companies such as Meta and Intel, which sit off
their corporate balance sheets.

近年来，阿波罗 (Apollo) MRE (Blackstone) 等
私葬资本集团已经组建了人工智能基础设施交易，以协
助包括 Anthropie 在内的公司为其在芯片和数据中心
方面的巨额支出提供资金。他们还率先为 Meta 和英特
尔等公司创建了数十亿美元、具有投资级评级的表外融
a.

‘Nvidia has been the biggest beneficiary of an explosion of
terest in AI, which has seen demand forthe group's newest

hardware vastly outpace supply. Chips account for the bulk of
the cost of new computing capacity.

Nvidia 是人工智能热潮的最大受益者，市场对该公司
最新硬件的需求已远超供应。在新增算力成本中，芯片
占据了绝大部分。

‘The company’s market capitalisation has increased 15-fold
‘since the end of 2022, shortly after the release of OpenAl’s
ChatGPr.

Bi 2022 年底 (即 OpenAl 发布 ChatGPT BFA)
以来，该公司的市值已增长了 15 倍。

‘The biggest cloud-computing companies, including Meta,
Oracle, Microsoft, Alphabet and Amazon, have dramatically
increased their spending on AI infrastructure as they ook to
‘win the race to dominate the emerging technology. Morgan
Stanley projects so-called hyperscalers will spend $3.5tn
between 2026 and 2028,

{818 Meta, Oracle, Microsoft, Alphabet 和
Amazon 在内的顶级云计算公司已大幅增加在人工知
能基础设施上的支出，力求在这一新兴技术的主导权竞
争中胜出。摩根土丹利预计，这些所谓的“超大规模运
营商"在 2026 年至 2028 年间的支出将达到 3.5 万亿
美元。

‘That need for capital has forced technology groups to tap
‘every source of cash they ean find, including public equity,
investment-grade and high-yield bonds, securitised debt,
private credit and projec finance markets.

NAAN RGA T OO
金来源，和包括公开股票、投资级和高收益债券、证券化
债务、私人信贷以及项目柄次市场。

MTThe sheer size ofthe AT infrastructure build-out is
“unprecedented,” Jim Zelter, president of Apollo, said on an
‘earnings call earlier this month, “More than $8tn of capital is
‘expected tobe invested, a staggering sum, We see an
‘enormous opportunity for private capital to finance a portion
‘of this along with put

apital
“人工智能基础设施建设的规模是前所未有的，”
Apollo £88 Jim Zelter 在本月早些时候的财报电话
会议上表示。“预计将投入超过 8 万亿美元的资金，这
是一个令人震惊的数字。我们看到了私人资本与公共次
本共同为其中一部分提供融资的巨大机遇。”