On August 11, Apollo Global Management LLC rose 3.25% in regular trading, trading at $131.575/share, with turnover of $398 million. The stock gained momentum following reports that the firm is part of a major consortium partnering with NVIDIA on a landmark AI financing deal.

According to reports, Apollo Global Management, along with Blackstone, BlackRock's Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs, and KKR, is collaborating with NVIDIA on a $500 billion artificial intelligence infrastructure financing package. The deal could be announced as early as Monday. This massive initiative underscores the accelerating capital deployment into AI infrastructure and positions Apollo at the center of the largest private financing effort in the sector to date.

The announcement follows Apollo's recent strategic moves in the AI space, including the appointment of Reed Rayman to lead its chip sector coverage and the hiring of a new AI industry head to pursue more mega-scale financing transactions. The firm also recently finalized a $35 billion debt deal alongside Blackstone to fund Anthropic's lease of Google chips.

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