The Bank of Nvidia: ZeroHedge maps $100BN+ in circular AI deals after Huang exit
SumitGup · x · 2026-11-14
ZeroHedge maps Nvidia's role as the AI ecosystem's lender of last resort, arguing a large share of its $50-60BN quarterly free cash flow is recycled into customers, suppliers and neoclouds — a pause could drain $50BN+ from the AI trade. The annotated chart (dated 12 Nov 2026) details $99BN in equity books, $100-350BN in guarantees, $50BN in cloud buy-backs and $23BN in capacity commitments, spanning OpenAI (up to $100BN equity), Anthropic (up to $30BN), xAI's $2BN SpaceX deal, Meta, CoreWeave, Nscale, Nebius, IREN and Lambda. The piece claims Jensen Huang has resigned with CFO Colette Kress taking over as interim CEO, framing the shift as mattering more for the ecosystem than for Nvidia's P/E.
Related event: Nvidia as AI's Central Bank: $530B Circular Financing Under Scrutiny(2 posts)→
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