Apollo's zelter warns compute and energy will limit AI growth

Apollo Global Management's President, Jim Zelter, warned that compute and energy will continue to be major bottlenecks as the AI investment boom accelerates. In an interview with Bloomberg’s Francine Lacqua, Zelter highlighted Apollo’s exposure to AI and data centers, emphasizing the critical role these sectors will play in the coming years. He also discussed the outlook for the US economy and the increasing involvement of private capital in defense. Zelter pointed to growing opportunities in the UK and Europe, noting the region’s potential in the AI landscape. The interview touched on broader investment trends, including the role of private capital in defense and the evolving dynamics of global investment. Zelter’s remarks underscore the challenges and opportunities facing the AI industry as it scales rapidly in 2026.