Amazon weighs spinning off $8B of Nvidia AI chips into leaseback vehicle
FT reports Amazon has held investor talks on moving Grace Blackwell chips off its balance sheet via a special-purpose vehicle.
Part of a larger narrative
The AI Chip Demand Surge
- Nvidia halts RTX 5090 production, reserves GB202 chips for data center and Pro GPUs
- Nvidia-Backed Firmus Postpones Mega IPO After Investor Demand Craters
- Nvidia's RTX Spark laptops debut at $2,599, top configs hit $7,000
- Amazon weighs spinning off $8B of Nvidia AI chips into leaseback vehicleyou are here
- Nvidia launches $4,999 DGX Spark with 64GB as memory prices soar
What to know
- Amazon is reportedly negotiating to move about $8 billion of Nvidia Grace Blackwell chips off its balance sheet into a new special-purpose vehicle.
- Under the plan Amazon would lease the chips back from the SPV, which would raise capital from outside investors partly through debt issuance.
- Amazon would offer investors an equity stake of up to 10% in the vehicle; the chips are installed across more than a dozen US data centers in five states.
- Neither Amazon nor Nvidia has confirmed the talks, which were first reported by the Financial Times citing unnamed sources.
Amazon Cloud giant seeking to offload chip assetsNvidia Maker of the Grace Blackwell chips at the center of the dealFinancial Times First reported the deal talks
How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts
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Wire services detail scope of the proposed chip deal
Reuters and other outlets add that the chips involved were bought or leased by Amazon and are installed in more than a dozen US data centres across five states, including Nevada and Virginia; Amazon and Nvidia did not immediately respond to requests for comment.
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🦔Amazon is in talks to move $8 billion of Nvidia Grace Blackwell chips into a special purpose vehicle, sell debt against them to outside investors, and lease the chips back. The chips are already installed across data centers in at least five states. Amazon would keep up to 10%
2 more of the top 3 · 22 posts in this stretch
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Amazon seeks to offload $8bn of Nvidia chips to external investors https:// app.ft.com/content/97d8d346-51 9e-48fb-8df8-66cf5f12ef62
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> Amazon plans to offer an equity stake of up to 10% in the vehicle, the newspaper said.10% is not a lot.There is a lot of investment money looking for any AI investment right now. Family offices through large institutional investors have made mandates to allocate to AI investments.Amazon is in a perfect position to scoop up some of those…
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FT reports Amazon seeking to offload $8B of Nvidia chips
The Financial Times, citing people familiar with the matter, reports Amazon has held talks in recent weeks with investors about moving roughly $8 billion of Nvidia Grace Blackwell chips into a special-purpose vehicle (SPV) and leasing them back, with the SPV raising funds from outside investors via debt and Amazon offering up to a 10% equity stake.
“The move aims to improve the tech group's balance sheet health as AI spending soars…”
— Financial Times -
14 outlets first by Seeking Alpha, 12d ago · also Investing.com News, Investopedia, Proactive, Quartz, Tech in Asia, Reuters +7 · read ↗
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first by Coinpaper, 12d ago · also Wccftech, Bloomberg, Binance, Bloomberg Law
4 more headlines
- Amazon Interested In Moving $8 Billion Of GPUs Off Its Books As Report Suggests Wall Street Grows Wary Of NVIDIA's $500 Billion GPU Plan Wccftech · 12d ago
- Amazon Seeks to Move $8 Billion of Chips Off Its Books, FT Says Bloomberg · 12d ago
- 🔥 Amazon's $8B NVIDIA Chip Move: What It Means for Tech & Markets Binance · 11d ago
- Amazon to Move $8 Billion of Chips Off Its Books, FT Says Bloomberg.com · 11d ago
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What people are saying 17 voices from 3 sites · best of 22 · verbatim
- Oct 3
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I would love an AI implosion as much as the next guy, but I don't think this is news. AFIK amazon doesn't actually own a whole lot of stuff. They are leasing most if not all of it.
- Oct 2
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Amazon Reportedly Seeks Investors for $8 Billion Nvidia Chip Financing Structure ｢ Amazon would then lease the artificial intelligence chips back from the vehicle for use in data centres across the United States. The special purpose vehicle would seek financing from external investors through debt issuance, according to the Financial Times ｣…
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Such a pity, Amazon has to throw away unwanted chips here while there are so many starving AI labs in China!
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wow, that's **weird**!!! https://www. reuters.com/business/retail-co nsumer/amazon-seeks-offload-8-billion-nvidia-chips-investors-ft-reports-2026-10-02/
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> the deal that would move thousands of Grace Blackwell chips it is installing in US data centres into a special-purpose vehicle> The cloud giant will then lease the advanced AI chips back from the SPVI mean nothing is disappearing off the balance sheet. They have this lease agreement they will need to pay.I would watch for what they do with the…
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Noise.When problems with AI investments become a problem the stock market will already communicate it, news will report it after the fact, not before.
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We could have Selena Gomez explain to us how the rules that were put in place to stop the degenerate big-bank side-bets last time (ESLR) were repealed right before the next time (April 2026). She's only 34, so she'll probably be around for the next few cycles of this, too.
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Our generation's very own mortgage-backed securities.Now we just need ratings on the GPU bundles, and eventually a clever way to rebundle the lower rated bundles into something that somehow comes out AAA.(for those unaware that's how the sub-prime mortgage crisis of 2008 happened)
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Capital-intensive business + smart lawyers and accountants = exotic financing schemes. Not a new thing, is it?
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I'll take a pallet of Nvidia DGX H200s for $200 + shipping. Let me know when I can order them by weight on ebay.
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For the sake of RAM prices I wish you were correct, but I doubt it. Amazon is more likely just making some cash in a very rational way.
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This looks just like financial engineering / creative accounting; to comply with things like GAAP rules and appearing less capex heavy, while functionally having the same effect.In the end, Amazon is still going to be the ones leasing and hence using the chips; nominally the 'owner' changes hands, and it looks like a bond (with a small equity…
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They vibe-coded an asset class using the same chips they’re leasing back to themselves. This is the new dogfooding.
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Chips are automatically a depreciating asset - is there a historical basis for understanding how that affects companies, and how that will affect GPU-centric companies?
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It’s starting… buckle up folks.It’s a shame we won’t have Anthony Bourdain to explain this move to us in the AI implosion docu-flick that comes out in 2029. It’s not stale fish, it’s fish stew! It’s a whole new thing!
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Amazon is up to some $$$ shenanigans regarding GPU/inference server financing… https:// app.ft.com/content/97d8d346-51 9e-48fb-8df8-66cf5f12ef62 (page takes a sec to load)
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Amazon is moving $8 billion of Nvidia chips into an investment vehicle so outside investors can own them and lease the chips back to Amazon. AI compute is literally becoming an income-producing financial asset. The government could do something similar, claim a percentage, and distribute UBI to us.