Nvidia’s AI deal stack tops $750B, and critics see a circular financing loop
FinanceYF5 · x · 2026-07-28
- Hedgey argues that Nvidia’s recent AI deal stack, reportedly totaling more than $750B, looks circular because the company is helping fund customers that then spend the money back on Nvidia chips.
- The cited structure includes a $500B deal with SK Group in Korea and an OpenAI package where Nvidia allegedly backstops up to $250B of OpenAI debt and funds another $350B of chip purchases.
- The post’s thesis is not that Nvidia has no real customers, but that part of the revenue may be amplified by financing loops that can look clever in a rising market and risky if growth or the stock price reverses.
Related event: Nvidia's $750B AI Deals Raise Circular Financing Concerns(3 posts)→
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