Overview
- Nvidia announced non‑binding memorandums with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to create independent compute‑financing platforms aimed at mobilizing more than $500 billion of third‑party capital.
- The financing structure is designed to let third parties fund AI data centers and hardware so most debt stays off Nvidia’s books while Nvidia may still provide up to 25 percent residual support on individual projects.
- Negotiations over a proposed 10‑gigawatt OpenAI campus in Pike County, Ohio have led Nvidia to scale down a previously discussed guarantee to under $120 billion, covering only the project’s initial phase as terms are finalized.
- Nvidia disclosed a roughly $21 billion stake in SpaceX via its xAI investment and SpaceX said it will use Nvidia GPUs exclusively, tightening commercial ties between the two companies.
- Analysts generally praised the push as a new asset class for compute but investors and critics warned of circular financing, hardware obsolescence, nearly $30 billion in off‑balance obligations, and practical bottlenecks in power and GPU supply.