Nvidia's growing web of AI deals has investors asking an uncomfortable question
By Joe Ciolli
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Author of the First Trade newsletter
Nvidia's circular web of AI deals has investors asking an uncomfortable question
Investors are starting to worry that the AI trade has become too interconnected for its own good.
TL;DRAI
Nvidia sealed $1T+ in deals this week, tightening its grip across AI layers—it sells chips to hyperscalers, then finances their startups. Risk: this circular structure creates contagion if hyperscaler capex disappoints this earnings week.
672 words~3 min read
