Six of the world's biggest asset managers — Apollo, Black Rock, Blackstone, Brookfield, Goldman Sachs, and KKR — pledged support for Nvidia's $500bn financing platform to back AI data centres. Nvidia may guarantee up to 25% of project value, boosting AUM by roughly $50bn. The firms also have their eye on the financialisation of AI, with compute futures contracts on the way from CME and the possibility of $200bn in private credit loans to AI borrowers by 2025.

Nvidia's market cap has nearly tripled to $1.7tn, and the company's cost of goods sold has almost tripled as well. Despite the boom, the question of who will use the data centres remains unanswered.