Amazon explores sale of about $8 billion in Nvidia chips via spin-off structure

AI Market Summary
Amazon's plan to sell about $8B of Nvidia Grace Blackwell chips into an SPV and lease them back highlights financial engineering to fund surging AI data center capex while protecting credit metrics. The report signals sustained demand for Nvidia's high-end accelerators, but also rising investor sensitivity to long-dated tech debt and higher funding costs. Both Amazon and Nvidia shares rose on the news, suggesting near-term risk appetite remains intact.
Impact level
● Medium
Affected assets
NCSKNVDA2USD/USDT+1.01%
AI Insight · NCSKNVDA2USD/USDTAI Insight
● Neutral
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On October 2, 2026, Amazon is seeking to sell about $8 billion of Nvidia chip assets to outside investors to strengthen its balance sheet, according to Catenaa. The structure would see Amazon offer up to a 10% equity stake and ultimately hold no ownership in the entity. Amazon has committed to invest about $83 billion in OpenAI and Anthropic, which use Nvidia Grace Blackwell chips to train models. Amazon expects capital expenditure of $220 billion this year, largely for AWS to buy advanced chips and expand AI data centers, and shares of Amazon and Nvidia rose 2% at Friday’s open.