Apollo's contrasting AI deals reveal Wall Street's capital dilemma
A $40 billion chip lease to SpaceX and a Mubadala Capital deal point to too few investment opportunities and higher AI financing costs
Apollo’s twin deals offer contrasting signals about Wall Street’s AI money problem: its Mubadala deal is a bet that capital is chasing too few investment opportunities, while its $40 billion SpaceX chip lease suggests AI financing now costs more than it did a few weeks ago.