The world’s largest financial groups are working with Nvidia to assemble a $500bn funding package for AI infrastructure development, in one of Wall Street’s most ambitious lending efforts to date.

A consortium of groups including Apollo Global, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs and KKR is entering a partnership with Nvidia to invest in the AI build-out, six people briefed on the talks told the FT.

The deal could be announced as soon as Monday, the people said. Shares in the chipmaker fell about 1.4 per cent after the FT reported on the arrangement, erasing more than $70bn in market capitalisation.

Something about eggs and baskets could be said here.