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Nvidia's letters of intent with six firms
Six firms plan to raise outside money for AI hardware. Nvidia says it may cover part of the gap if chips are worth less than expected at the end of a financing, up to 25% of a given deal. Its latest 10-Q lists a form of residual value guaranty as an exhibit.
- Size
- Undisclosed · Target of more than $500B in outside capital, spread over years. Not a commitment, so it isn't counted here.
- Date
- Type
- Backstop
- Status
- Non-binding
Who does what
- Nvidiaplans residual value guarantees, project by project
- Apollosigned a letter of intent
- BlackRocksigned a letter of intent
- Blackstonesigned a letter of intent
- Brookfieldsigned a letter of intent
- Goldman Sachssigned a letter of intent
- KKRsigned a letter of intent
What we don’t know
- Each firm's share
- What triggers a guarantee
- Any timeline
Sources
- Nvidia guarantees its own chips' value to unlock $500 billion in AI infrastructure financing The Decoder · Aug 11, 2026
- Nvidia 10-Q, quarter ended Jul 26, 2026 SEC · Aug 26, 2026
We opened each of these on Oct 30, 2026.
See it on the debt map. Not financial advice.