Apollo Global Management LLC Class A

Nvidia has announced partnerships with Apollo, Blackstone, BlackRock, Brookfield, Goldman Sachs, and KKR to launch compute financing platforms aimed at raising over $500 billion for AI infrastructure, with CEO Jensen Huang saying Nvidia could backstop up to $125 billion, or 25%, of potential deals. Blackstone President Jon Gray said on CNBC that AI compute will be seen as a financeable asset class, similar to how mortgage lenders assess homes. The move comes amid rising skepticism about AI spending, and Nvidia shares fell after the deal was first reported, erasing more than $70 billion in market value. Blackstone, one of six partners, has seen AI compute demand across its portfolio companies surge sevenfold this year and has prior experience financing AI infrastructure for companies like Anthropic. BlackRock CEO Larry Fink compared this moment to the creation of mortgage-backed investments in the 1970s, but commentators have flagged circular financing concerns, and Moody's has warned that heavy capex is squeezing free cash flow and pushing tech giants toward more debt.

JIOS, the industrial outdoor storage platform owned by Jadian Capital, has secured a $277 million loan from affiliates of Apollo Global Management for a 37-property portfolio across 23 markets. The portfolio is concentrated in infill locations near logistics hubs and dense population areas, with tenants in equipment rental, building materials, logistics, and home services. This financing brings JIOS's total debt secured in 2026 to over $800 million, reflecting growing institutional lender interest in the sector. JIOS, which owns or controls more than 225 assets valued at approximately $2.2 billion across over 30 markets, aims to expand its national footprint with this capital.

Wall Street is eagerly anticipating Nvidia Corp.'s earnings on Wednesday afternoon, not so much for the numbers but for what they signal about the AI trade and the broader market. Nvidia, the world's most valuable company with a market cap over $5 trillion, is up 14% in 2026, a far cry from its past performance, and its shares have been volatile, recently ending a seven-day losing streak that matched the longest since 2019. Investors are focused on CEO Jensen Huang's comments about capital spending by big customers, future demand, and new financing deals, including a $500 billion partnership with Goldman Sachs, BlackRock, and Apollo for AI infrastructure, and a $105 billion commitment to an Ohio data center campus leased by OpenAI. Analysts expect revenue to nearly double from a year ago, but the market is more concerned about the circularity of financing and whether Nvidia's own investments are driving demand. The options market is pricing a roughly 5% swing in either direction, and the stock is near its cheapest valuation since late 2018, trading at about 19 times forward earnings.

Realty Income is expanding its private capital platform, with fee-earning equity under management jumping from $586 million in fourth-quarter 2025 to $2.68 billion in second-quarter 2026. The company secured $1.7 billion of third-party institutional commitments in March 2026 for its U.S. Core Plus Fund, which had approximately $3.27 billion of assets under management by June-end, while Realty Income's ownership declined to 26.8%. In second-quarter 2026, the fund made $672.5 million of gross investments versus just $180.1 million on Realty Income's pro-rata share, underscoring the capital-light model. A joint venture with Apollo brought in $1 billion of permanent equity for a 49% interest, and its GIC relationship includes a $1.5 billion U.S. industrial build-to-suit joint venture. Realty Income raised its 2026 investment guidance to $10 billion from $9.5 billion, and management fee income rose to $3.2 million.

Apollo Global Management is involved in one of the industry's first Section 48E tax equity transactions to fund distributed clean energy projects in Illinois, alongside Summit Ridge Energy and Foss & Company. The deal supports community solar projects in Illinois and applies the new Section 48E clean electricity investment tax credit framework. The transaction highlights Apollo's focus on energy transition opportunities and potential platform growth in sustainable infrastructure financing.

Broadcom Inc. is negotiating with a group of lenders to secure more than $60 billion in debt financing for an artificial intelligence chip deal that would support Anthropic PBC and other companies, Bloomberg reported Thursday citing people familiar with the matter. The financing package, which remains under discussion, may include an additional junior debt tranche of approximately $30 billion, bringing the overall financing to as much as $100 billion. Broadcom would reportedly guarantee part of the senior-secured tranche under the proposed arrangement, which could total between $60 billion and $70 billion. Blackstone Inc. and Apollo Global Management are in discussions with Broadcom to join the chip financing, building on a partnership the three companies formed in June to fund computing infrastructure. The deal would provide companies including Anthropic with access to chips and other essential AI infrastructure, and the structure could resemble the $35 billion debt agreement that launched the group's AI XPV partnership.

Earn Your Leisure hosts Rashad Bilal and Troy Millings framed NVIDIA's $500 billion AI investment partnership with Apollo, Blackstone, BlackRock, Brookfield, Goldman Sachs and KKR as 'almost like a digital infrastructure bill,' signaling private capital now backs AI buildout. Jensen Huang cited $1 trillion in Blackwell and Rubin revenue visibility through 2027, and he projected AI infrastructure spending at $3 to $4 trillion annually by decade's end. NVDA carries 58 Buy ratings and an 85% Polymarket probability of a new all-time high, but 27 recent insider transactions trend toward net selling.

The US Securities and Exchange Commission has issued new guidance supporting debt financing to accelerate data center construction for artificial intelligence growth. Nvidia is leading the way with an agreement worth more than 500 billion dollars alongside major private equity firms such as KKR and Apollo to create a new asset class for computing power. The SEC guidance states that certain data center-related debt instruments will be exempt from securitization rules under the Dodd-Frank Act, allowing project developers to reduce the equity capital required for each project. Lawyers and financial advisers believe the guidance will significantly spur innovation in securitizing data center revenue streams in US capital markets.

Nvidia CEO Jensen Huang unveiled a $500 billion AI data center financing plan on August 10, standing alongside leaders from Goldman Sachs, BlackRock, Blackstone, KKR, Apollo, and Brookfield. The group says it will raise the funds, and potentially more, from outside investors to build new AI data centers. KKR's head of digital infrastructure, Waldemar Szlezak, described the shift as a revenue stream. Nvidia previously announced a plan to invest up to $100 billion in OpenAI for data centers needing 10 gigawatts of power, but that investment never fully materialized. No money has been raised yet, only memos of understanding between the firms.

Nvidia's $500 billion infrastructure financing platform is set to support the AI investment boom. The deal involves Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR & Co. mobilizing over $500 billion of third-party capital for AI infrastructure buildout. Nvidia will act as a marketplace, helping customers access compute at scale and build DSX AI factories. Goldman Sachs notes corporate profit margins have climbed rather than eroded, distinguishing the current AI boom from the dotcom bubble. Nvidia reported FY26 revenue growth of 65% year-over-year to $215.9 billion and operating cash flow of $102.7 billion.

Intel priced an upsized $20 billion public stock offering this week, selling over 210 million shares at $95 each and expecting net proceeds of about $19.7 billion to fund AI-related growth opportunities. Super Micro Computer closed 19% higher on Wednesday after issuing fiscal first-quarter guidance well above Wall Street forecasts, while Lumentum rose 14% on strong fiscal fourth-quarter results and outlook. Workday jumped nearly 18% on Thursday after Reuters reported private equity firm Silver Lake is in talks to buy the software company, with Needham analysts estimating a potential takeover price of $240 to $250 per share. NVIDIA confirmed it is working with a consortium of lenders including Apollo Global Management, Blackstone, BlackRock, Brookfield, Goldman Sachs, and KKR to raise $500 billion for AI infrastructure, signing a memorandum of understanding to establish first-of-their-kind compute financing platforms at global scale. AMD filed a mixed shelf debt offering that could raise up to $5 billion in four tranches, and Argus upgraded Sandisk to Buy from Hold with a $1,600 price target.

Broadcom shares fell more than 5% on Friday after BofA analyst Tom Curcuruto estimated the chipmaker's AI chip-financing vehicle could reach $370 billion of senior debt by mid-2029 at a 20-gigawatt scale, including roughly $150 billion of new issuance in 2027 alone. The financing vehicle, not Broadcom itself, would raise the debt, but Broadcom has agreed to backstop some customer lease obligations, with maximum exposure of up to $29 billion on the initial transaction. The structure began in June when Apollo and Blackstone led a $35 billion financing for Broadcom's AI XPV Platform, funding more than 1 gigawatt of compute capacity for Anthropic, while the broader platform is designed to support more than 20 gigawatts for frontier AI labs through 2028. Broadcom generated $10.8 billion of AI semiconductor revenue last quarter and has guided to $16 billion for the current quarter, with Polymarket traders giving a 94% chance of topping $15 billion and a 78% chance of exceeding $16 billion.

Nvidia shares fell 2.1% in afternoon trading as investors reacted to concerns over a massive $500 billion financing plan for AI infrastructure and rising competition from major customers. The chipmaker is reportedly working with financial firms including Apollo Global and Blackstone to fund data centers and power generation needed for the AI boom, raising questions about its reliance on external funding for growth. Billionaire Mark Cuban warned that Nvidia's financing efforts, which subsidize customer purchases, could make the market fragile, while Microsoft's development of its own Maia 300 AI chip presents a significant competitive threat that could reduce Nvidia's market share. The stock was trading at $217.51, down 2.8% from the previous close.

Onto Innovation shares surged 6% Tuesday, extending an 85% year-to-date gain, after peer Camtek reported record quarterly results and NVIDIA announced a $500 billion AI infrastructure financing partnership. Camtek posted record revenue of $133.24 million for Q2 2026, beating the $130.19 million consensus, and disclosed year-to-date bookings exceeding $600 million with deliveries stretching into 2027, driven by AI-linked HBM memory and chiplet architectures. NVIDIA is partnering with Apollo, BlackRock, and other Wall Street firms on a financing platform aimed at mobilizing more than $500 billion in third-party capital for AI infrastructure, reinforcing demand for Onto's metrology and inspection tools used in HBM stacks and 2.5D logic packages. Onto had already guided Q2 FY2026 revenue to $320 million to $330 million and expects roughly 25% full-year growth in its advanced nodes segment, with its Dragonfly G5 and Atlas G6 systems winning qualifications at key AI process nodes.

NVIDIA CEO Jensen Huang announced a financing framework with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to mobilize more than $500 billion in third-party capital for AI factory buildouts. Huang stated that GPU compute has become bankable infrastructure, with one-year H100 rental rates rising from roughly $1.70 per GPU-hour in October 2025 to $2.35 by March 2026, and B200 Blackwell cloud pricing ranging from about $5.30 to $7.05. NVIDIA may provide residual-value support covering up to 25% of an opportunity. Amazon shares fell 2.4%, Microsoft dropped about 1%, and Alphabet lost nearly 2% as the capital pool could empower neoclouds and frontier labs to challenge hyperscalers, which are already tracking combined 2026 capital spending near $745 billion. CoreWeave, in which NVIDIA holds a $2 billion equity stake, saw its shares rise 1% after reporting first-quarter revenue growth of 111.6% year over year and a backlog of nearly $100 billion.

Apollo Global Management posted record second-quarter 2026 results, with fee-related earnings of $785 million, or $1.26 per share, and spread-related earnings of $877 million, or $1.41 per share, driving total adjusted net income of $1.3 billion, or $2.11 per share. Origination volume reached $74 billion in the quarter, not including the $35 billion Broadcom financing that will benefit future periods, and capital formation hit a record $60 billion of organic inflows. CEO Marc Rowan highlighted momentum across the business, with management fees up 23% year-over-year and capital solutions fees of $277 million marking the fifth straight quarter above $200 million. The firm also announced plans to open a new office in Austin, Texas, to focus on building businesses of the future, and confirmed it is on track for its 2026 growth outlook for fee-related and spread-related earnings.

Apollo Global Management stock is drawing attention after Nvidia announced a partnership with Apollo and other major financiers to establish compute financing platforms targeting more than $500 billion for AI infrastructure. The news follows a 9.71% share price gain over the past 30 days, though the stock remains down 9.95% year to date. Apollo currently trades at a price-to-earnings ratio of 40.3 times, well above the estimated fair P/E of 26.8 times and the US Diversified Financial industry average of 16.1 times. Analysts expect earnings to grow 30.9% annually over the next three years, which may support the premium valuation, but risks remain if AI infrastructure funding slows or revenue from asset management and retirement services disappoints.

Nvidia announced memoranda of understanding with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to mobilize over $500 billion in third-party capital for AI infrastructure. The company retains an option to backstop up to roughly 25% of the financing, or about $125 billion, creating correlated risk if underlying AI projects underperform. The $500 billion figure represents non-binding MOUs and is a multiyear target, not committed capital. A key structural risk is the mismatch between data center GPUs, which become obsolete in three to five years, and infrastructure-style lending tenors that typically match assets with 30- to 50-year useful lives. Nvidia's stock declined about 3% following the announcement.

Anthropic has confidentially filed for an IPO targeting a $965 billion post-money valuation, with Morgan Stanley, Goldman Sachs, and JPMorgan leading the underwriting for an offering expected in October. The company has built a global compute infrastructure spanning seven distinct corridors across three continents, funded through a mix of off-balance-sheet special purpose vehicles, strategic equity investments, and credit substitution mechanisms. This includes a multi-billion dollar agreement with AWS for Trainium chips, Google TPU capacity financed via SPVs arranged by Apollo and Blackstone with Broadcom providing a residual value backstop on roughly $30 billion of senior tranches, a ~$1.25 billion monthly lease for SpaceX Colossus 1 through May 2029, up to $5 billion in strategic equity from AMD alongside 2 GW of Instinct MI450 capacity starting in H1 2027, and a $10 billion, six-year deal with Volta Infra in Norway backed by a $1.3 billion standby letter of credit from J.P. Morgan. Revenue scaled from $10 million ARR in early 2023 to $47 billion by May 2026, with Claude Code contributing approximately $8 billion and enterprise API comprising 80 to 85 percent of the mix, implying a 20.5x annualized revenue multiple.

U.S. stock futures were little changed early Tuesday as investors weighed renewed Middle East tensions, higher oil prices, and AI sector developments ahead of key inflation data. Dow futures slipped 51 points, or 0.1%, while S&P 500 and Nasdaq 100 futures were broadly flat. President Donald Trump rejected Iran's demand for reparations, dimming prospects for a peace deal and keeping the Strait of Hormuz effectively closed, which pushed Brent crude up 1.8% to $89.34 a barrel. Intel raised $20 billion through an upsized share offering priced at $95 per share, a 2.6% discount, selling 210.5 million common shares with a 30-day option for underwriters to buy up to 31.6 million more. Riot Platforms surged over 20% in extended trading after Bloomberg reported that Anthropic signed a $9.1 billion long-term deal for 191 megawatts of computing capacity at Riot's Texas campus, with potential total sales reaching $16.1 billion if extension options are exercised. Nvidia confirmed an AI infrastructure initiative with Apollo, BlackRock, Goldman Sachs, and KKR to mobilize over $500 billion in third-party capital, though its shares fell more than 2%. The Reserve Bank of Australia unanimously held its benchmark rate at 4.35%, as expected, but cautioned that elevated inflation and higher fuel prices from the Iran conflict could keep further hikes in play.

Apollo Global Management is participating in a planned $500 billion AI infrastructure fund alongside Nvidia and other large Wall Street investors. The fund will target data centers and related AI infrastructure, reflecting growing capital demand for large-scale computing projects. Apollo also announced a new innovation hub in Austin, Texas, to expand its presence in a major US technology and industrial center. Together, these moves represent a material extension of Apollo's focus on AI-related infrastructure and regional growth in the United States.

Moody’s has placed easyJet’s credit rating under review for a downgrade of two notches or more, which would drop it into junk territory, following the £5.7 billion takeover by Apollo Global Management. Lead analyst Luigi Bucci said the deal introduces substantial uncertainty around the airline’s conservative financial policy and will result in a material deterioration of its credit profile. The ratings agency assumes the acquisition, priced at £7.15 per share in cash, will be financed through equity from Apollo-managed funds and debt from a banking syndicate, with private equity ownership typically leading to higher debt levels. Moody’s also noted the buyout comes at a sensitive point as easyJet’s capital spending is forecast to jump from £1.2 billion last year to more than £3 billion in fiscal 2028 for fleet renewal, while operating profit is expected to dip to £200 million this year amid high fuel prices. Apollo funds are expected to own 49.9% of easyJet, with existing shareholders including founder Stelios Haji-Ioannou retaining between 45.1% and 49.9% and the remainder held via an employee trust.

A consortium of Apollo Global, Blackstone, BlackRock Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs, and KKR is assembling a $500 billion funding package in partnership with Nvidia to underwrite artificial intelligence infrastructure. The capital will cover chips, power generation, and data centers, marking a shift toward treating compute capacity as a long-term utility. The group brings together firms managing trillions in combined assets, including Blackstone with over $1 trillion and Brookfield with over $900 billion. The move follows earlier phases of AI financing, from single-company special purpose vehicles to tech-company networks, and now to institutional-grade consortiums. The deal was first reported by the Financial Times and confirmed by Reuters, though specific terms and the debt-equity mix remain undisclosed.

US investment fund Apollo Global Management has agreed to acquire UK budget airline easyJet for approximately £5.7 billion, or $7.7 billion. The purchase price represents a premium of about 81% over the closing price on May 28, the last trading day before a rival bid from Castlelake surfaced. The easyJet board unanimously recommended the all-cash offer, and founder Stelios Haji-Ioannou, together with his family, has expressed support. Castlelake had made five previous bids but withdrew from the takeover battle after Apollo entered the fray in July. Apollo plans to take easyJet private after the acquisition and accelerate the expansion of its holiday business. To retain EU operating rights, the Haji-Ioannou family and others are expected to hold between 45.1% and 49.9% of the ordinary shares in the acquisition vehicle, with Apollo's funds capped at a 49.9% stake.

Anthropic has secured $71 billion in chip-lease debt through special purpose vehicles in roughly 60 days, keeping the obligations off its corporate balance sheet. The structure relies on a Broadcom residual value backstop that effectively lends Broadcom's investment-grade credit rating to senior tranches, including approximately $6 billion in Senior A1 notes and approximately $24 billion in Senior A2 notes from a $35 billion deal closed in June 2026 arranged by Apollo Global Management and Blackstone Credit and Insurance. A $4.5 billion Class B tranche without the backstop trades at roughly 8.5 percent, highlighting the value of the credit enhancement. A preliminary $36 billion second deal led by Blackstone is in early investor talks, targeting data centers in New York, Texas, Louisiana, and Indiana, and if finalized would push total structured-credit exposure to Google hardware above $71 billion. The financing is separate from Anthropic's planned October 2026 IPO, which targets a valuation anchored at the $965 billion post-money from its $65 billion Series H raise, with Morgan Stanley, Goldman Sachs, and JPMorgan leading the underwriting.

Rio Tinto’s planned sale of infrastructure assets is attracting interest from major private equity firms including Blackstone, Apollo Global Management, KKR, and Stonepeak, according to The Australian. The deal is expected to total between $2 billion and $3 billion, with Morgan Stanley managing the sale process. The assets span infrastructure holdings in Canada and the Pilbara region of Western Australia, though the final shape of the transaction remains fluid. Regulatory scrutiny in Australia could pose a hurdle for offshore buyers, potentially making the Canadian assets the first to be sold.

Bayer AG reported a 3% increase in group sales to EUR24 billion for the first half of 2026, with core earnings per share up 3% to EUR3.66. The CropScience division delivered 5.5% sales growth and expanded its EBITDA margin to 31%, while Pharma's new products Nubeqa and Karendia combined for 66% growth, offsetting declines in Xarelto and Eylea. Free cash flow was negative EUR2.7 billion, driven by EUR2.5 billion in litigation-related payouts, and net financial debt stood at EUR33.6 billion, expected to fall to EUR29-30 billion following a EUR3 billion equity investment from Apollo. CEO Bill Anderson highlighted a landmark U.S. Supreme Court ruling in Monsanto v. Durnell as a victory providing regulatory clarity and strengthening the company's litigation containment strategy.

Apollo-managed funds have acquired Maverick Water Group, a Houston-based developer, owner and operator of alternative non-potable water systems serving communities across Texas, from funds managed by Crosstimbers Capital Group. Maverick's management team retains a minority stake and continues to operate the company. Founded in 2018, Maverick develops alternative water system assets in partnership with real estate development and industrial customers to support reliable non-potable water supply. With Apollo Funds' support, the company plans to continue scaling its platform and its significant near-term pipeline to meet accelerating demand for efficient, sustainable water infrastructure. Apollo Funds have deployed more than $130 billion across infrastructure and infrastructure-related investments over the past five years.

EasyJet reported a 70% drop in pre-tax profit to £85 million for the April-to-June quarter, down from £286 million a year earlier, as higher fuel costs and weaker bookings following the Iran-U.S. conflict weighed on results. Fuel costs rose by £105 million, driven by higher prices on the unhedged portion of consumption, with fuel prices peaking at around $1,800 per metric tonne in April. Despite the profit decline, shares rose over 5% in early trading Thursday, partly recovering from an 11% fall the previous day after reports of a potential EU review of a takeover bid. The company has attracted takeover interest, with its board recommending a £5.7 billion bid from Apollo Global Management over a £5.5 billion offer from Castlelake. Management noted improving booking trends and expects August bookings to exceed last year's levels, though the outlook remains dependent on volatile fuel prices and summer travel demand.

Realty Income's investment case extends beyond its monthly dividend, supported by a portfolio of over 15,000 properties across 1,786 clients in 92 industries with 98.9% occupancy and an 8.7-year weighted average lease term. First-quarter revenue rose 12% year over year, and management raised full-year 2026 investment guidance with same-store rent growth guided at 1% to 1.3%. The company is expanding into data centers through a joint venture with Digital Realty Trust and growing a private capital arm, with Apollo committing $1 billion to a 500-property retail portfolio in Q1. Europe now accounts for 20% of annualized base rent and provides a funding edge, as euro-denominated debt prices roughly 100 basis points below comparable U.S. dollar debt. Realty Income trades at roughly 14.8 times forward AFFO with a 4.95% yield, though risks include interest rate sensitivity and tenant credit challenges at Walgreens and Family Dollar ahead of its August 5 earnings report.

Revolut has introduced private market funds on its platform for eligible customers in Europe through collaboration with Apollo, Ares, Hamilton Lane and Partners Group. The offering gives individual investors access to assets across private equity, private credit and private infrastructure through fund structures intended for non-institutional investors. The funds are set up under the EU's ELTIF 2.0 regime and are evergreen with periodic liquidity windows. Revolut, which has 75 million customers globally, said the new product is aimed at experienced investors with a long-term investment horizon. Fund management and performance fees apply.