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Nvidia is bankrolling its own customers. How far will it go?
Nvidia is backing its customers while rivals build around it. Subscribe for $299 and save 25%.
Why it works
- Frame the issue around one timely question, then use it to connect several related stories.
- Group story summaries under clear themes so readers can scan the coverage and understand how the pieces fit together.
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How it is built
- Editorial introduction
- Customer debt stories
- Nvidia risk analysis
- Rival developments
- Subscription offer
- App poll invitation
Email copy
Hello, Nvidia sells the chips behind the AI boom, and it is increasingly the one holding the boom up. Its customers are borrowing heavily to buy GPUs, its own balance sheet is covering some of the risk, and its rivals are looking for ways around it. The Information’s reporters have followed all three threads. These stories reveal where Nvidia’s position is strongest and where it is being tested. The debt behind Nvidia’s biggest customers CoreWeave, a cloud company Nvidia backs and supplies, borrowed its way to the center of the AI boom, and its stock has been sliding. Our exclusive goes inside the Blackstone loan that started it, and why CoreWeave’s debt binge has become a test for the whole build-out. Nscale is heading toward an IPO with a backlog of contracts that rivals CoreWeave’s, and Nvidia is among its backers. Most of that capacity is still unbuilt, which raises the question of what the company is really worth. Nvidia steps in as the backstop Nvidia has become something like a central bank for the companies buying its chips, promising to cover leases and buy unused capacity. Our analysis adds up how much it has put on the line, and it may have to go further. Firmus, an Australian cloud provider Nvidia has backed in its last three funding rounds, pulled its IPO this month after investors balked. Nvidia is now in talks to back it again. How far Nvidia will go to keep its customers afloat is the open question. The rivals chipping at Nvidia’s lead In China, DeepSeek is shaping the design of Huawei’s next AI chips, with Huawei engineers working inside its offices. The goal is to train top models without Nvidia. Closer to home, chip startups that set out to beat Nvidia are choosing to partner with it instead, and Nvidia plans to invest in one of them. It is not the first such deal. Nvidia is underwriting its customers’ growth while its rivals look for a way around it. How long both can last is still open. Before it’s everywhere, it’s in The Information. Subscribe for $299 and save 25% on your first year to follow the money behind AI’s biggest chip supplier. Subscribe now New From The Information Pro AI Inflection Index Flagging emergent terms and investable themes. 77 core AI trends tracked across 10,000 articles, newsletters, and briefings. Gain access to AI Inflection Index, 60+ org charts, proprietary databases, exclusive newsletters, subscriber-only events, and more by subscribing to The Information Pro. Think you know tech? Prove it. Five quick polls a day on the biggest stories in tech. QUESTION OF THE DAY Anthropic is targeting a Nasdaq debut the week of Nov. 16. What will AUNT’s first-day move be? Vote in the free app Subscribers can view past polls in the archive. Follow us Read anywhere Explore Our Newsletters Subscribe to The Information Sent to you@example.com | Manage your preferences or unsubscribe | Help The Information · 251 Rhode Island Street, Suite 107, San Francisco, CA 94103