Amazon is reportedly exploring a deal to transfer roughly $8 billion worth of Nvidia AI chips to external investors. The move would allow the e-commerce and cloud giant to reduce the amount of capital tied up in its rapidly expanding AI infrastructure.
The company has reportedly held discussions with investors in recent weeks to gauge interest in a transaction involving thousands of Nvidia Grace Blackwell chips currently being deployed across data centers in the U.S.
Under the proposed structure, Amazon would place the Nvidia chips into a special purpose vehicle (SPV). The vehicle would then raise financing from external investors, including through debt issuance, while leasing the chips back to Amazon.
This structure would allow Amazon to continue using the expensive AI hardware without carrying the full cost of ownership on its balance sheet. The strategy effectively shifts part of the upfront infrastructure investment toward an asset-light financing model.
Amazon is also reportedly considering offering investors an equity stake of up to 10% in the vehicle.
Hyperscalers Look for New Ways to Fund AI
Amazon’s move reflects a broader trend among major cloud and technology companies. The so-called hyperscalers are spending heavily on data centers and AI computing capacity, creating enormous capital requirements.
Advanced GPUs and AI accelerators represent a significant portion of those costs. By using alternative financing structures, companies can potentially expand their computing capacity while limiting the immediate impact on their balance sheets.
Amazon expects to spend more than $200 billion in capital expenditure this year, with a substantial portion directed toward Amazon Web Services (AWS), including new data centers and AI chips.
For traders, the development is important because it provides another signal about the enormous financing requirements behind the AI boom. If Amazon proceeds with the transaction, it could offer insight into how major technology companies are managing the rising cost of AI infrastructure while attempting to preserve financial flexibility.
The news could also influence sentiment around Amazon (AMZN), Nvidia (NVDA), data-center operators, semiconductor companies, and broader AI-related stocks. Traders will likely watch Amazon’s capital-spending plans, Nvidia’s chip demand, and the market’s reaction to alternative financing structures, as these factors could affect expectations for future earnings, margins, and AI investment across the technology sector.
