Bloomberg says Nvidia has $750B of AI deals, stoking worries about circular demand
FinanceYF5 · x · 2026-07-28
- Bloomberg says Nvidia is sitting on more than $750B in AI-related deals, and the market is getting uneasy about how they are structured.
- The thread highlights two huge examples: a $50B deal with Korea’s SK Group and a separate OpenAI arrangement where Nvidia would reportedly back up to $25B of OpenAI debt while also providing $35B in funding for OpenAI to buy chips.
- The argument is that some of these deals look circular: Nvidia funds counterparties, and those counterparties then spend the money back on Nvidia chips, making demand look stronger than it really is.
- Jensen Huang has called that framing “ridiculous,” but critics say the structure ties Nvidia more tightly to OpenAI’s growth and could create a double hit if growth slows: guaranteed debt exposure plus cancelled chip orders.
Related event: Nvidia’s $750B AI Deals Face Scrutiny(2 posts)→
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