# 英伟达联手华尔街六大机构为AI芯片融资

- 来源：Rohan Paul (@rohanpaul_ai)
- 发布时间：2026-08-12 09:45
- AIHOT 分数：48
- AIHOT 链接：https://aihot.virxact.com/items/cmspfjbm90hmtrort4rwic5xk
- 原文链接：https://x.com/rohanpaul_ai/status/2087354656443998596

## AI 摘要

英伟达与Apollo、BlackRock、Blackstone、Brookfield、Goldman Sachs和KKR签署谅解备忘录，设立专项资本池为客户提供芯片融资。黄仁勋称英伟达可为项目提供最高25%（约$125B）的残值支持，以撬动第三方资金。此举将信贷决策转移至外部资管机构，但批评者认为仍存在更隐蔽的循环融资风险。

## 正文

WSJ: Nvidia made a very smart move by partnering with 6 large Wall Street investors to create a financing platforms that lend against its chips.

But why

Nvidia's revenue depends on customers being able to pay for chips most cannot buy with cash. The large tech firms can; the smaller AI labs, clouds and enterprises behind the rest of the demand have to borrow, and their costs have risen as investment-grade issuers absorb the available credit.

CoreWeave paid yields above 9% this month, showing what AI borrowers now pay for compute.

If they cannot finance purchases, orders slow even though demand exists.

The earlier fix was Nvidia's own balance sheet, through investments in customers and guarantees on their debt, which drew criticism as circular funding.

So routing capital through outside asset managers replaces Nvidia's money with pension, insurance and sovereign-fund money, and moves credit decisions elsewhere.

Jensen Huang says Nvidia may backstop 25% of a project's cost through residual-value support.

That 25% residual-value support is what gets that money moving.
Investors are lending against hardware whose resale value depends on how fast Nvidia's next generation arrives, the one variable they cannot price and Nvidia controls. Guaranteeing a floor covers exactly that risk, which is why skeptics still see circularity in a thinner form.

### 引用推文

> Rohan Paul：Wall Street heavyweights pour $500 Bn into Nvidia's AI push - Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR signed MOUs to create dedicated c...