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841 Insurance Money Is Latest Funding Source for AI Developers

The Information
Miles Kruppa @ The Information · 09/16/2025 09:00 EDT

Insurance Money Is Latest Funding Source for AI Developers

Wall Street is turning to life insurance capital to meet artificial intelligence’s insatiable funding needs, melding the AI boom with a fast growing source of assets for the biggest private equity firms.

Apollo Global Management, one of the largest asset managers, recently bought Texas-based Stream Data Centers, which is targeting the big cloud and AI developers known as hyperscalers. Once the deal is finalized, Apollo executives see an opportunity to invest funds from the firm’s insurance arm Athene into.

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