Catenaa, Monday, February 09, 2026- Apollo Global Management is close to finalizing a roughly $3.4 billion loan to an investment vehicle that plans to buy Nvidia chips and lease them to Elon Musk’s xAI.
The Information reported on Monday, citing sources, that the investment could be finalized as soon as this week, and Valor Equity Partners, a longtime investor in Musk’s companies, is arranging the deal.
Less than a week ago, Musk announced that SpaceX acquired the artificial intelligence company he also leads in a deal that values the rocket and satellite company at $1 trillion and the AI outfit at $250 billion.
Big tech companies are expected to spend more than $600 billion this year to buy advanced chips and build out massive data centers needed to deploy and train AI systems.
Also, Bloomberg reported that Apollo Global Management recorded $97 billion in the fourth quarter, totaling $309 billion for the year, almost $100 billion more than the year before.
The growth of that business also helped drive the spread and fee-related earnings to records for the year.
“We are at the forefront of building the next generation of financial services,” Chief Executive Officer Marc Rowan said in a statement announcing the firm’s fourth-quarter earnings Monday.
Shares of the company rose by over 3% on Monday, and are down by over 5% so far this year.
Fee-related earnings jumped 25% to $690 million in the fourth quarter, beating the average of analyst estimates compiled by Bloomberg.
