Nvidia is working with major financial institutions including Goldman Sachs, BlackRock, Blackstone, Apollo, Brookfield and KKR to arrange around $500 billion (£394 billion) in financing that would treat computing power, chiefly GPUs, as a new investable asset class. Nvidia chief executive Jensen Huang has framed the chips as "revenue-generating," "long-lived" and "fungible" assets akin to a financial product, a notable shift from his rhetoric a year earlier when he suggested older Hopper chips would soon be nearly worthless once newer Blackwell chips arrived in volume.

BlackRock chief executive Larry Fink compared the plan to the early days of mortgage-backed securities, a comparison critics say is uncomfortable given that market's later collapse when mortgages were overproduced. Rental prices for older Nvidia chips have indeed been rising, with one cloud provider nearly doubling the price of its Blackwell B200 chips for a renewing customer, and analysts expect that trend to continue through 2028. However, the arrangement remains only a memorandum of understanding rather than a finalised deal, echoing Nvidia's unfulfilled $100 billion pledge to OpenAI last year, and questions persist over data-centre oversupply, more efficient Chinese open-source models, and whether AI labs such as OpenAI and Anthropic can ultimately turn a profit.