On August 10, local time, Nvidia announced that it has signed a memorandum of understanding with Apollo Global Management, Blackstone Group, BlackRock Group, BlackRock, Goldman Sachs, and KKR to establish a computing power financing platform with the goal of deploying more than 500 billion US dollars of third-party capital over the long term for AI infrastructure construction. However, the big news did not surprise the market; on the contrary, it was more like a shock. After the news was announced, Nvidia's stock price fell more than 3% intraday on the same day, and eventually closed down 2.86%; the next day, Nvidia's stock price closed slightly down 0.02%, basically stabilizing. This may be related to Nvidia's “redefinition” of GPU asset attributes. The traditional view is that GPUs are hardware that is rapidly depreciating, and Nvidia is trying to redefine the asset attributes of GPUs. Bloomberg reported on August 11 that Nvidia has signed deals worth hundreds of billions of dollars with companies within the AI ecosystem, causing some investors to worry that such agreements are circular transactions, and Nvidia may use this to boost the demand and valuation of the entire industry. Since late May, the cost of default insurance for Nvidia's debts has nearly doubled. This reflects growing market attention to Nvidia's potential credit risk under the huge financing model.

On August 10, local time, Nvidia announced that it has signed a memorandum of understanding with Apollo Global Management, Blackstone Group, BlackRock Group, BlackRock, Goldman Sachs, and KKR to establish a computing power financing platform with the goal of deploying more than 500 billion US dollars of third-party capital over the long term for AI infrastructure construction. However, the big news did not surprise the market; on the contrary, it was more like a shock. After the news was announced, Nvidia's stock price fell more than 3% intraday on the same day, and eventually closed down 2.86%; the next day, Nvidia's stock price closed slightly down 0.02%, basically stabilizing. This may be related to Nvidia's “redefinition” of GPU asset attributes. The traditional view is that GPUs are hardware that is rapidly depreciating, and Nvidia is trying to redefine the asset attributes of GPUs. Bloomberg reported on August 11 that Nvidia has signed deals worth hundreds of billions of dollars with companies within the AI ecosystem, causing some investors to worry that such agreements are circular transactions, and Nvidia may use this to boost the demand and valuation of the entire industry. Since late May, the cost of default insurance for Nvidia's debts has nearly doubled. This reflects growing market attention to Nvidia's potential credit risk under the huge financing model.