Apollo to back 15 billion AI infrastructure project in Japan

Apollo Global Management intends to serve as a strategic investment and financing partner for U.K. developer RHAELM Holdings, which is teaming up with Jera, Japan's largest power generator, and Dell Technologies on a venture in Chiba Prefecture. Apollo Global Management is set to provide financing for a $15 billion AI infrastructure project in Japan, accelerating the private asset firm's push into the artificial intelligence sphere. The New York-based company intends to serve as a strategic investment and financing partner for U.K. developer RHAELM Holdings, which is teaming up with Jera, Japan's largest power generator, and Dell Technologies on the venture in Chiba Prefecture, according to a statement on Thursday. The project, aimed at strengthening Japan's domestic AI capacity, is expected to involve more than $15 billion in capital deployed across land, power infrastructure, construction and computing. Operations are slated to start around 2028, and it will be powered by as much as 400 megawatts of electricity with help from Jera's nearby thermal power station.