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Apollo makes $250m in unrealised gains from xAI

privateequitywire

3 months ago

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Apollo has generated around $250m in paper gains from a recent private credit investment backing Elon Musk’s artificial intelligence venture xAI, according to a report by Bloomberg citing people familiar with the matter.
The gains stem from roughly $7bn of debt Apollo has provided to xAI, which was structured to help the company secure access to graphics processing units supplied by Nvidia. The value of the debt reportedly increased following xAI’s merger with SpaceX.
Apollo is understood to hav...

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