Nvidia's $500B AI Finance Plan Falters: What Happens Next
Nvidia's $500 billion AI financing plan is faltering after Jensen Huang's exit, with at least one Wall Street backer weighing withdrawal and no deals signed.
Image: Wikimedia Commons / Coolcaesar
Santa Clara, California, Saturday, 14 November 2026 — Nvidia’s $500 billion plan to finance the artificial intelligence boom is faltering days after Jensen Huang’s sudden resignation, with at least one of the six Wall Street firms behind the plan discussing pulling out and no deal yet signed under it.
Huang unveiled the plan in August, standing alongside executives from Apollo Global Management, BlackRock, Blackstone, Brookfield Asset Management, Goldman Sachs and KKR. Together, the group pledged to mobilise more than $500 billion to finance AI computing deals. Three months later, not a single loan has been made.
Key Takeaways
- At least one of the six firms discussed withdrawing the day before the troubles surfaced; no loans have been made since August.
- Nvidia offered to backstop up to 25% of each deal; customers and lenders want a bigger guarantee.
- The first deal is now unlikely before January at the earliest, and only if Huang’s exit does not derail the programme.
Which Firms Are in Nvidia’s $500 Billion AI Financing Plan?
The six firms are Apollo Global Management, BlackRock, Blackstone, Brookfield Asset Management, Goldman Sachs and KKR. Nvidia announced the plan in August, with Huang flanked on television by the firms’ executives, saying the group would finance AI computing deals worth more than $500 billion.
In the same month, Nvidia committed $105 billion towards an OpenAI data centre. That strategy is now in question. Huang resigned on Thursday, 12 November, after 33 years leading the company, and Colette Kress, the chief financial officer, has taken over as interim chief executive.
Why Nvidia’s 25% Backstop Is Not Enough for Lenders
The sticking point is the size of Nvidia’s guarantee. Under the plan, Nvidia would provide a residual value support agreement covering up to 25% of each deal’s value. Over the past month, customers and Wall Street partners have pressed Nvidia to increase that share.
The comparison worrying lenders is Broadcom. The rival chipmaker backstopped $30 billion of a $35 billion debt deal in May under which Anthropic leases tensor processing units, and is covering 72.5%, about $43 billion, of the first-lien portion of a second $63 billion Anthropic deal. The Federal Reserve’s latest Financial Stability Report found AI risks topping the list of concerns, with 87% of survey contacts citing them.
| Detail | Nvidia AI financing plan | Broadcom–Anthropic deals |
|---|---|---|
| Total size | $500bn+ planned | $35bn (May) and $63bn deals |
| Backstop offered | Up to 25% of each deal | 72.5%, about $43bn, on first-lien portion |
| Deals closed | None since the August launch | Two deals arranged |
| First deal expected | January at the earliest | May 2026 onwards |
When Will the First Nvidia AI Financing Deal Close?
Not soon. The first transaction is now unlikely to be announced before January at the earliest, and that timing assumes Huang’s departure does not derail individual contracts or the programme as a whole.
Nvidia and the six firms have said little in public. Blackstone declined to comment, and representatives for Nvidia, Apollo, BlackRock, Brookfield, Goldman Sachs and KKR did not immediately respond to requests for comment. The next hard date is Nvidia’s third-quarter earnings on 17 November.
Frequently Asked Questions
What is Nvidia’s $500 billion AI financing plan?
Nvidia announced the plan in August 2026 with six Wall Street firms — Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR — to finance more than $500 billion of AI computing deals. Buyers borrow against the equipment, with Nvidia guaranteeing up to 25% of each deal.
Why are banks reconsidering Nvidia’s AI financing plan?
Lenders want a bigger guarantee than Nvidia’s 25% backstop, and rival Broadcom has offered far larger cover on its Anthropic deals. At least one of the six firms discussed withdrawing after Jensen Huang’s sudden resignation, and no loans have been made under the plan in three months.
When will the first deal under Nvidia’s AI financing plan close?
Not before January at the earliest, and only if Huang’s exit does not derail the programme. No transaction has been announced since August.
What happens to Nvidia’s AI financing plan after Jensen Huang’s resignation?
The plan’s future is uncertain. It was driven personally by Huang, and analysts warn it could fall through without him. Interim chief executive Colette Kress has not yet said whether Nvidia will keep the plan or raise the backstop to hold its partners.
