Nvidia reached deals with some of Wall Street's largest firms aimed at raising massive amounts of capital to help the chipmaker's customers finance the cost of computing power.

The chip-maker has signed agreements to partner with Apollo Global Management, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs and KKR to establish "compute financing platforms," the companies announced Monday. The firms aim to deploy over $500 billion of outside capital in the coming years.

The firms said the platforms will create pools of capital at "attractive rates" for Nvidia customers.

"These financing platforms will help customers access scarce compute at scale and build the AI factories that will power every industry and country in the age of AI," Nvidia CEO Jensen Huang said.

Apollo and Blackstone earlier this year struck a deal with Broadcom to set up a similar financing platform for the chipmaker's customers. The platform will offer financing to companies like Anthropic to pay for computing power from chips developed by Broadcom, including Google's processing units.

Nvidia's stock ended Monday down nearly 3% after the Financial Times earlier reported the deal.

The companies said the deal would help fund the country's AI build-out.

Spending commitments on data centers and other AI infrastructure have reached eye-popping levels, and Wall Street's banks and investment firms have been rushing to finance the boom in increasingly creative ways. Nvidia has been in talks with OpenAI to provide a roughly $250 billion backstop for a data-center project, The Wall Street Journal reported last month. And Meta Platforms partnered with BlackRock for an off-balance-sheet financing for a new data center in Texas.

The financing could help signal to stock investors that Nvidia and its partners in the artificial-intelligence boom have the firepower to build the infrastructure they need. Debt investors have lent companies hundreds of billions of dollars over the past year through direct bond sales and debt deals tied to individual data-center projects.

Since June, bond investors have doubled the incremental yield they demand to lend to Nvidia to about 0.40 percentage point over comparable Treasury bonds, according to pricing service Solve.