Nvidia has committed over $530 billion to the AI ecosystem by July 2026, positioning itself as both a capital provider and a hardware vendor. The company invested over $70 billion in startups over three years and provided roughly $300 billion in financial support to customers, including a $105 billion backstop for a major Ohio data-center project for OpenAI. The strategy hinges on using GPUs as financial collateral, turning chips into durable assets that can secure financing. Customer-related liabilities are estimated at around $300 billion, with much of that sitting off the balance sheet, raising concerns about hidden risks. In late September 2026, Nvidia opened discussions with insurers about covering potential defaults on GPU-backed loans, holding approximately $99 billion in cash and liquidity against those contingent obligations.
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