Artificial intelligence is automating office tasks while also creating a new type of human work, which the headline calls the “verification tax.” The headline frames this added work as a drag on A.I. efficiency.
Broadcom is working to arrange more than $50 billion in financing for OpenAI’s custom AI chip, while Oracle is discussing financing for a large chip purchase. Apollo, Blackstone and Goldman Sachs are among lenders in talks to fund megadeals worth tens of billions of dollars apiece.
Apollo Capital Management and several banks are discussing financing for SpaceX's planned $40 billion Nvidia GPU purchase. The financing is expected to rely primarily on investment-grade debt, with the GPUs likely serving as collateral and Apollo playing a leading role. The talks follow SpaceX's $25 billion bond sale after its June IPO, as AI-related bonds sell off, credit spreads widen, and fixed-income investors demand higher yields.
SpaceX seeks to raise about $40B to buy Nvidia chips, with Apollo leading the financing. The proposed package includes roughly $10B in bank loans and $30B in investment-grade debt, illustrating the vast spending on chips and other infrastructure underpinning AI.
