Nvidia is shifting from selling chips to becoming a financial facilitator for AI infrastructure. Bank of America estimates cumulative AI capital expenditures will exceed $5 trillion between 2026 and 2030, with roughly $1.2 trillion requiring external financing. In August 2026, Nvidia announced partnerships with Apollo, BlackRock, and KKR to mobilize over $500 billion in external capital for AI infrastructure projects. The company reported $197.3 billion in data center revenue for fiscal 2026. A flagship project in Ohio targets 4.25 gigawatts of capacity to serve organizations like OpenAI, but analysts warn of off-balance-sheet commitments that could reach tens or hundreds of billions of dollars.
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