Amazon Explores Moving $8B in Nvidia Chips Off Balance Sheet via SPV
Amazon is negotiating to transfer approximately $8 billion of Nvidia Grace Blackwell chips deployed across U.S. data centers into a special-purpose vehicle funded by outside investors. Amazon would lease chips back while the SPV issues debt and offers up to 10% equity.
TLDR
This reflects acute capex pressures on hyperscalers amid hundreds of billions in planned AI infrastructure spending. The move toward securitizing GPUs as infrastructure assets could accelerate AI buildout by transferring balance-sheet and residual risks to financial investors. It signals potential structural shifts in how tech giants finance hardware and manage capex-intensive operations amid valuation debates.
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