Goldman seeks investors for Nvidia's $500bn AI infrastructure financing

Goldman Sachs is in talks with investors to participate in Nvidia's $500 billion AI infrastructure financing initiative, leveraging its long-standing relationship with the chipmaker to secure a key role in the deal. US insurers, money managers, and banks are expected to form the core investor base, with asset managers retaining a sizable share. Goldman can provide junior capital and private credit financing through its asset management arm, while its investment bank may place debt into private credit funds and eventually public markets. The financing structure differs from earlier AI infrastructure deals that relied on vendor guarantees, with Nvidia having the option to backstop up to $125 billion. The goal is to create an asset-backed market for AI compute, potentially lowering funding costs and drawing broader investor participation.