Building chips was just the beginning…

If every road in AI runs through Nvidia…one more $5 billion bet hardly seems unusual.

It started with a $500 billion-plus AI infrastructure partnership with SK Group.

Then came a $1 billion investment in NAVER to expand Korea’s sovereign AI infrastructure.

Then a $5 billion investment in Safe Superintelligence grabbed the headlines.

In about a week, Nvidia invested in an AI lab, expanded one of the world’s largest AI infrastructure partnerships, and was pursuing more than $750 billion in potential AI agreements.

One headline is news. A week like this starts looking like a strategy.

Here’s the full picture. ⇩

SPONSOR BREAK presented by DealMaker*

The Nvidia of Energy

Nvidia’s valuation surged by 1,092% when it became the backbone of AI. But now there’s a problem Nvidia can’t solve: AI data centers are beginning to consume more power than entire nations like Sweden or Argentina.

Enter Frontieras. Their patented tech reforms coal, one of America’s most abundant resources, into hydrogen and diesel without burning it. With a coal-friendly White House, this could unlock up to $2.1T in energy potential.

Frontieras has reserved the “FASF” Nasdaq ticker and raised $30M+ from investors. Now you can join them.
Invest at $9.01/share before the share price changes after 8/6.

Disclaimer: This is a paid advertisement for Frontieras’s Regulation A offering. Please read the offering circular at https://invest.frontieras.com/. Reservation of the ticker symbol is not a guarantee that we will be listed on the NASDAQ.  Listing on the NASDAQ is subject to approvals.
Under Regulation A, a company may change its share price by up to 20% without requalifying the offering with the Securities and Exchange Commission.

Connect The Dots.

1 Safe Superintelligence (SSI) — $5 Billion

Nvidia’s biggest check of the week went to Ilya Sutskever’s AI startup. The deal includes access to Nvidia’s next-generation Vera Rubin platform, which the companies say could increase SSI’s computing power by 10x. According to reports, the partnership came together in just a matter of weeks.

2 SK Group — Up To $500 Billion

Nvidia expanded one of its biggest infrastructure partnerships yet, teaming up with SK Group to develop more than 2 gigawatts of AI data center capacity in South Korea—enough electricity to power roughly 1.5 million homes. The first AI factory is scheduled to open next year, while Nvidia and SK Hynix will also deepen their work on next-generation high-bandwidth memory, one of AI’s most critical hardware bottlenecks.

3 Naver — $1 Billion

Nvidia also invested $1 billion in Naver’s AI data center project with Brookfield, helping expand the planned facility to more than three times its original size. Investors liked what they heard: Naver shares climbed more than 8%, showing how a single Nvidia investment can move markets well beyond its own stock.

“We have research that is worthy of scaling up, and having access to a big NVIDIA computer will let us do so.“
— Ilya Sutskever, co-founder and CEO, Safe Superintelligence

Still Under Discussion:

✱ According to reports, Nvidia is also in talks to support OpenAI’s massive Ohio AI campus—potentially guaranteeing up to $250 billion in construction and lease financing, while separately discussing $350 billion in financing tied to OpenAI’s future chip purchases.

The negotiations remain preliminary and could still change or fall apart, but they offer a glimpse of how large Nvidia’s ambitions have become.

SPONSOR BREAK presented by DealMaker*

The Nvidia of Energy

Nvidia’s valuation surged by 1,092% when it became the backbone of AI. But now there’s a problem Nvidia can’t solve: AI data centers are beginning to consume more power than entire nations like Sweden or Argentina.

Enter Frontieras. Their patented tech reforms coal, one of America’s most abundant resources, into hydrogen and diesel without burning it. With a coal-friendly White House, this could unlock up to $2.1T in energy potential.

Frontieras has reserved the “FASF” Nasdaq ticker and raised $30M+ from investors. Now you can join them.
Invest at $9.01/share before the share price changes after 8/6.

Disclaimer: This is a paid advertisement for Frontieras’s Regulation A offering. Please read the offering circular at https://invest.frontieras.com/. Reservation of the ticker symbol is not a guarantee that we will be listed on the NASDAQ.  Listing on the NASDAQ is subject to approvals.
Under Regulation A, a company may change its share price by up to 20% without requalifying the offering with the Securities and Exchange Commission.

The SK Group Deal, In Context↓

The SK Group partnership may prove even more important.

Beyond building more than 2 gigawatts of AI data center capacity, the agreement gives Nvidia a deeper relationship with SK Hynix—the world’s leading supplier of high-bandwidth memory (HBM), one of the biggest bottlenecks in AI hardware today. Add the first SK Telecom AI factory opening next year, and the partnership stretches across compute, memory, and infrastructure.

In other words, Nvidia isn’t just selling chips into the AI boom. It’s helping shape the supply chain that makes the boom possible.

So Why Did The Stock Fall?

→ -5.3% – Nvidia’s Monday decline — a roughly $250B drop in market value in one session

→ 82 bps – Nvidia’s 5-year credit default swap — the highest level ever recorded

The circular financing concern, explained plainly

Investors are increasingly worried about a specific pattern:
→ Over the past year, Nvidia has backed OpenAI, Safe Superintelligence, CoreWeave, Nebius, IREN, Naver, and now SK Group—companies that also happen to be major customers for Nvidia’s chips.

That’s raising a broader question: where does customer demand end and Nvidia’s financing begin?

!!! Short seller Michael Burry has publicly questioned this structure, arguing that Nvidia is increasingly helping fund the very demand driving its own revenue growth. Whether that concern proves justified remains to be seen, but investors are clearly paying attention.

The jump in Nvidia’s credit default swap (CDS)—essentially the cost of insuring against a company defaulting on its debt—suggests the market is assigning more risk to Nvidia’s growing role as both supplier and financier than ever before.

→ Nvidia CEO Jensen Huang has pushed back on the idea that the company is artificially creating demand for its own chips. His argument: Nvidia’s investments are only one piece of the financing puzzle. Customers still raise the vast majority of their capital from banks, private investors, and other funding sources.

One more thing this week.

✱ Nvidia also launched the Open Secure AI Alliance alongside Adobe, CrowdStrike, Dell, and Hugging Face—an industry coalition focused on making AI systems safer after recent concerns surrounding autonomous AI agents.

Nvidia says it will contribute open models, model weights, and research designed to improve how AI agents behave and respond.

On its own, it’s a relatively small announcement. In the context of everything else this week, it reinforces a bigger theme: Nvidia is trying to become part of every layer of the AI industry—from chips and infrastructure to software, security, and now AI safety.

Lesson Of The Day:

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