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**Apollo in Talks to Lead $35 Billion Financing of Meta’s AI Data Centers**

By Anissa Gardizy

3 hours ago

Source: Bloomberg

Apollo Global Management is in talks to lead a $35 billion debt financing by Meta Platforms to build data centers in the U.S., according to a Bloomberg report. The move comes as Meta discusses building a large data center campus, which could total $200 billion given the size of the project and its power requirements, The Information reported Tuesday. An Apollo spokesperson declined to comment.

Meta's financing of AI data centers through firms like Apollo is somewhat unusual, given Meta has hefty cash holdings it could use for such projects. The largest buyers of Nvidia graphics processing units for AI data centers, such as Amazon Web Services, Meta, and Microsoft, have been using their balance sheets for such endeavors. Meta has already told investors it plans to raise its capital expenditures this year by around 70% to as much as $65 billion, in part for AI data centers.

During the recent AI boom, debt financing for data centers has largely been raised by startups or smaller AI data center developers such as CoreWeave, and the financing they've raised has been geared toward specific sites and chip purchases, costing several billion dollars apiece. OpenAI, Oracle, and SoftBank, however, are in the process of raising financing for their Stargate data center joint venture, which would likely require a minimum of tens of billions of dollars of debt.