The cheerleaders of the supposed new in finance are unhappy with my recent piece. They cite the recently proposed financing of data centres as an apparently obvious riposte. And there is no doubt that the Nvidia-inspired scheme is notable. But it’s certainly not new. In a widely reported blog post last month, Nvidia proclaimed: “We are announcing partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to establish independent financing platforms designed to mobilise over $500 billion of third-party capital to support the buildout of AI infrastructure over time. “Every industrial revolution has been built on infrastructure: electricity, transportation,…

Want to continue reading?

Join today with an Annual Membership and get full access to The Currency and The Wall Street Journal for just €200 or try Monthly Membership for just €5 for your first month.

Subscribe

Cancel at any time.

Are you already a member? .