By Saeed Azhar, Max A. Cherney, Isla Binnie and Stephen Nellis
Publication Date: 2026-10-01 10:02:00
NEW YORK, Oct 1 (Reuters) – Nvidia’s mammoth financing plan has opened a debate on Wall Street about how much its advanced chips and the infrastructure around them are worth. The answer for banks and investors seems to be: Not as much as Nvidia thinks.
Some lenders want higher guarantees than the company had originally outlined, even for Nvidia’s industry-leading AI processing power, as they try to calculate how long the revenue from its chips will last, banking sources and credit managers told Reuters, some requesting anonymity.
The chips, which provide the critical processing power known as “compute”, are at the center of a potential mismatch in views between Nvidia and a more cautious Wall Street, raising potential future financing headaches for AI companies seeking to tap deep new pools of capital.
The bankers and asset managers said they have some doubts that the chips can act as long-term collateral as Nvidia says, and therefore want more guarantees from the company on its $500-billion financing plan that relies on chip-backed loans.
Already, sources told Reuters, deals in the pipeline likely offer investors more certainty including stronger guarantees.
“Wall Street is much more conservative,” Tony Trzcinka, a senior portfolio manager at Impax Asset Management, said of Nvidia’s claim that its most specialized chips can earn revenues for a decade.
In a statement, an Nvidia spokesperson said that its “AI compute is a productive, durable and fungible asset that can…