Nvidia, in its most recent 10Q, disclosed $530B of gross off-balance sheet guarantees across six different line items – a jump from $184B of obligations disclosed in the prior quarter. The main drivers were increases in Supply Commitments - primarily commitments to buy memory, Datacenter backstops for SB Energy's PORTS-Pike campus in Ohio for OpenAI, as well as two new items - $36B of AI Cloud Agreements representing Neocloud Backstops and $20B of datacenter leases that Nvidia has taken out to later assign to Neocloud offtakers. (1/4)🧵
Nvidia's off-balance-sheet guarantees rise to $530B in latest 10-Q
AISummary
SemiAnalysis reports that Nvidia's latest 10-Q discloses $530B of gross off-balance-sheet guarantees across six line items, up from $184B in the prior quarter.
The main drivers are higher supply commitments, mainly memory purchases, and datacenter backstops for SB Energy's PORTS-Pike campus in Ohio for OpenAI. Two new items also appear: $36B of AI Cloud Agreements for Neocloud backstops and $20B of datacenter leases Nvidia has taken on to assign to Neocloud offtakers.
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Source: SemiAnalysis · x.comPublished