Apollo Backs AI Startups in Bid to Bankroll Hardware Boom

Apollo Global Management has begun investing in AI and hardware startups to lend to them in the future. The company invested tens of millions of dollars in Mercor's round at a $20 billion valuation, as well as in chip startup SiFive and Hadrian.

• Apollo invested tens of millions in Mercor's round
• Mercor's valuation in new round is $20 billion
• Also invested in SiFive and Hadrian
• Apollo plans to lend to such companies in the future