英伟达执行长黄仁勋宣布，该公司正联合高盛、黑石、阿波罗、KKR、贝莱德及博枫等华尔街巨头，计划为人工智慧运算交易提供总计高达5000亿美元的融资。此举旨在向投资者保证，有充足的资金支持英伟达的客户——尤其是Anthropic和OpenAI等AI新创公司——购买其晶片，同时拓展超越微软和亚马逊等超大规模客户的业务基础。
该融资计划目前尚无具体签署的交易，公告内容刻意保持模糊。英伟达将为部分交易提供担保，但其支持上限为单一项目的25%，且将逐案评估。资金将主要透过私人信贷市场筹集，但由于规模庞大，也需进入公开市场，预计将透过特殊载体发行债券，每笔可达数百亿美元，用于向英伟达客户租赁晶片。
此消息最初引发债券投资者的不安，担心英伟达因循环融资模式而过度杠杆化。怀疑者指出，晶片估值可能因AI热潮而被高估，且大规模基础设施建设未来可能导致运算能力过剩。尽管如此，摩根大通等其他机构仍积极寻求参与，摩根士丹利更随即宣布了一项1.5兆美元的美国创新与国家安全融资框架，显示华尔街对AI基础设施的融资热情持续高涨。
Nvidia CEO Jensen Huang announced a consortium of major Wall Street firms—including Goldman Sachs, Blackstone, Apollo, KKR, BlackRock, and Brookfield—aiming to collectively finance $500 billion in AI computing deals. The initiative is designed to reassure investors that deep-pocketed financiers stand ready to back Nvidia's customers, particularly AI startups like Anthropic and OpenAI, as Nvidia seeks to diversify its client base beyond hyperscalers such as Microsoft and Amazon that are increasingly developing their own components. (Key numbers: 5000)
No deals had been signed at the time of the announcement, which was intentionally kept vague. Nvidia will guarantee a portion of transactions, capped at 25% per project and evaluated case by case. While much of the financing will flow through private credit markets, the sheer scale will also require tapping public markets via bonds—potentially tens of billions each—issued by special-purpose vehicles that lease chips to Nvidia's clients. The $500 billion figure has no set timeline and combines deals already under discussion with projected near-term demand.
The announcement initially unsettled debt investors worried about circular financing risks, given Nvidia's prior investments in clients like CoreWeave. Skeptics caution that chip valuations may be inflated by AI hype and that a massive infrastructure buildout could eventually produce an oversupply of computing capacity. Nonetheless, interest from other institutions remains strong—JPMorgan is exploring involvement, and Morgan Stanley promptly unveiled a $1.5 trillion framework for U.S. innovation and national security financing, with AI and advanced computing at the top of its agenda.