Fears are percolating again about circular financing in the AI race, and Wall Street's focus is landing on Nvidia (Nasdaq:NVDA), which is fast becoming a chipmaking behemoth in the AI development race. In late July, the company announced a $500 billion partnership with South Korean conglomerate SK Group to power AI infrastructure including factories and memory supply. It's also in negotiations with OpenAI for a $250 billion backstop designed to enable a new data center project in southern Ohio, according to the Wall Street Journal.
The massive sums of cash moving from lender to buyer in AI's ecosystem are stirring renewed fears among investors about arrangements in which Nvidia and other AI companies finance firms or projects that artificially boost demand for its products. If the transactions fail to generate profits, this strategy runs the risk of amplifying losses for companies staking their future on AI.
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