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Update

What changed

CNBC reports that Nvidia has signed up for $20 billion in future data-centre leases, which are expected to be assigned to third parties. Its August filing also outlined more than $500 billion in off-balance-sheet commitments over coming years, most maturing by fiscal 2029.

The report adds that Nvidia joined six large asset managers in an AI-infrastructure financing push announced in August. The arrangement offers financial firms up to $125 billion in residual-value guarantees on GPU financing, alongside Nvidia’s investments in infrastructure funds.

Separately, financial research firm New Constructs estimates Nvidia’s net present value of off-balance-sheet liabilities for fiscal 2026 at more than $153 billion, up over $100 billion from the previous year.

Sources and evidence

• Nvidia's role as AI financier faces first big test as neoclouds take market hit – CNBC: CNBC reports Nvidia signed $20 billion in future data-centre leases, disclosed more than $500 billion in off-balance-sheet commitments through coming years, and joined a financing arrangement with up to $125 billion in residual-value guarantees. New Constructs estimates Nvidia’s net present value of off-balance-sheet liabilities for fiscal 2026 at more than $153 billion.

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