Amazon’s $8B Nvidia Chip Leaseback Deal [2026]

Amazon is in talks to move roughly $8 billion worth of Nvidia Grace Blackwell chips off its own balance sheet and into a newly created financing vehicle, then lease the same hardware straight back for use in its U.S. data centers, according to a report from the Financial Times citing people familiar with the matter. Neither Amazon nor Nvidia has publicly confirmed the deal, and the proposal is still described as under discussion rather than signed. But the structure itself marks a notable shift in how the biggest cloud providers are paying for the AI buildout, and it puts a dollar figure on a financing trend that has been building quietly all year.