Nvidia is working on a fresh round of AI infrastructure deals potentially worth more than $750 billion, Bloomberg reported, accelerating a pattern of investment that critics say inflates demand and valuations across the sector. The response from the debt market was unusually direct.
Nvidia’s five-year credit default swap spread surged to a record 82 basis points on Monday, its largest single-day intraday increase since the contract began actively trading in November 2025, according to ICE Data Services figures cited by Bloomberg. Credit default swaps are effectively insurance against a bond issuer failing to pay.
What is in the $750bn
An AI initiative with SK Group, parent of chipmaker SK Hynix, was unveiled late Friday and is worth more than $500 billion by Nvidia’s own accounting. The two will build more than two gigawatts of AI data centres on the Korean Peninsula, roughly the power required for 1.5 million homes.
Separately, Nvidia is in talks to guarantee as much as $250 billion so OpenAI can lease a 10-gigawatt data centre campus that a SoftBank subsidiary is developing in southern Ohio. It is also discussing financing a further $350 billion of OpenAI chip purchases.
