Apollo Readies $3.4B Chip Financing for Elon Musk’s XAI
Apollo Global Management is nearing a roughly $3.4 billion loan to a vehicle that will buy Nvidia chips and lease them to Elon Musk’s XAI (which has merged with SpaceX), marking Apollo’s second major financing for the XAI chip venture, which aims to raise about $5.3 billion in equity and debt.