Amazon offloads $8B in NVIDIA GPUs using external financing

Amazon is reportedly moving about $8 billion in NVIDIA GPUs off its own balance sheet, creating special entities to own the chips but still getting access to them. The deal lets Amazon shift the financial risk—and some potential investment upside—to outside investors, turning these in-demand AI chips into a kind of financial asset. The exact arrangement gives Amazon more flexibility as it builds out costly AI infrastructure.

• Amazon to transfer $8B in GPUs to special entities
• Amazon keeps access but shifts ownership risk
• Outside investors fund the SPVs and take on chip risk
• GPU-backed bonds are emerging in the finance world
• Hyperscalers are innovating new ways to finance AI chips