Nvidia CEO Huang: Chips become investable asset class as 6 asset managers join $500B AI push

Published Aug 12, 03:31 PM UTC

Nvidia CEO Jensen Huang announced a partnership with six major Wall Street asset managers—Apollo Global Management, BlackRock, Blackstone, Brookfield Asset Management, Goldman Sachs, and KKR—to unlock over $500 billion in financing for AI infrastructure. Huang stated that this marks the first time technology chips have become an investable asset class, describing Nvidia's GPUs as revenue-generating, long-lived, and flexible infrastructure akin to electricity or the internet. The initiative aims to help hyperscalers and AI labs finance data centers and hardware through institutional credit and private investment rather than relying solely on balance sheets. Separately, Bank of America reiterated Nvidia as a 'top pick' with a $350 price target, projecting Q2 revenue of $94-95 billion and Q3 guidance above consensus estimates. Nvidia reported Q1 revenue of $81.6 billion, an 85% year-over-year increase.