Nvidia 已经与六家主要金融机构合作,包含 Apollo、BlackRock、Blackstone、Brookfield、Goldman Sachs 以及 KKR,以动员超过 $500 billion 的第三方资本来为人工智慧基础设施融资。这项倡议旨在透过确立其长期经济寿命与未来现金流潜力,将图形处理单元转变为可融资的资产类别。
此经济模型依赖于硬体的残余价值,例如 Blackwell B200 系统,其平均售价为 $30,000 至 $40,000,并以数百或数千个为丛集进行部署。尽管 Nvidia 大约每年都会推出新的运算平台,但财务可行性取决于旧世代持续产生租金收入,而非变得过时。
为了证明这种延长的经济寿命,于 2020 年推出的 A100 晶片仍然保持获利。CoreWeave 的 CEO Michael Intrator 证实了先前的世代持续产生回报,这点由最近一份延续至 2029 年的 A100 合约所凸显。这场 $500 billion 的金融实验测试了 Wall Street 是否会像重视新系统的效能升级一样,重视旧硬体持续不断的现金流。
Nvidia has partnered with six major financial institutions, including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR, to mobilize over $500 billion in third-party capital for financing artificial intelligence infrastructure. This initiative aims to transform graphics processing units into financeable asset classes by establishing their long-term economic life and future cash flow potential.
The economic model relies on the residual value of hardware like the Blackwell B200 system, which commands an average selling price of $30,000 to $40,000 and is deployed in clusters of hundreds or thousands. Despite Nvidia introducing new computing platforms approximately every year, the financial viability depends on older generations continuing to generate rental income rather than becoming obsolete.
Demonstrating this extended economic lifespan, the A100 chip, introduced in 2020, remains profitable. CoreWeave CEO Michael Intrator confirmed that previous generations continue generating returns, highlighted by a recent A100 contract extending into 2029. This $500 billion financial experiment tests whether Wall Street will value the ongoing cash flow of older hardware as much as the performance upgrades of new systems.