{"id":2730,"date":"2026-07-28T10:06:41","date_gmt":"2026-07-28T10:06:41","guid":{"rendered":"https:\/\/americanhomejournals.com\/?p=2730"},"modified":"2026-07-28T10:06:41","modified_gmt":"2026-07-28T10:06:41","slug":"nvidias-growing-web-of-ai-deals-has-investors-asking-an-uncomfortable-question","status":"publish","type":"post","link":"https:\/\/americanhomejournals.com\/?p=2730","title":{"rendered":"Nvidia&#8217;s growing web of AI deals has investors asking an uncomfortable question"},"content":{"rendered":"<section>\n<p>To understand why Nvidia commands a nearly-$5 trillion valuation is to understand its central role in the AI trade. The company has used its first-mover advantage, immense cash pile, and sheer scale to make itself a major hub within the AI wheel.<\/p><p>Read more <a href=\"https:\/\/americanhomejournals.com\/?p=2726\">Jensen Huang says that AI job destruction doomers are \u2018exactly backward\u2019<\/a><\/p><p>It sells GPUs to hyperscalers like Microsoft and Amazon, who then rent Nvidia-powered compute to startups like OpenAI and Anthropic. Nvidia has also invested in many of those startups, giving it exposure to nearly every layer of the AI ecosystem.<\/p><p>Put simply, <strong>Nvidia benefits from nearly every stage of AI-infrastructure spending<\/strong>, regardless of which application ultimately wins.<\/p><p>Over the past few days, Nvidia has strengthened that position even further. Here&#8217;s a rundown:<\/p><ul><li><em>July 24<\/em>: Nvidia announced a $500 billion partnership with SK Group, the parent company of South Korean chipmaking giant SK Hynix<\/li><li><em>July 24<\/em>: Nvidia announced a $1 billion investment in Naver as part of a partnership to help build South Korea&#8217;s sovereign AI infrastructure.<\/li><li><em>July 26<\/em>: The WSJ reported that Nvidia is helping back roughly $250 billion in financing for OpenAI&#8217;s planned 10-gigawatt AI data center in Ohio<\/li><li><em>July 26<\/em>: The WSJ also reported that Nvidia is discussing up to $350 billion in financing to help OpenAI purchase its AI chips<\/li><li><em>July 27<\/em>: Nvidia deepened its partnership with Safe Superintelligence, the AI startup founded by former OpenAI chief scientist Ilya Sutskever<\/li><\/ul><p>What a whirlwind. CEO Jensen Huang is always wheeling and dealing.<\/p><p>But the deal spree has some investors worried the AI ecosystem is becoming too circular, raising questions about whether today&#8217;s spending reflects genuine demand or simply reinforces itself. <strong>Has the AI trade become too interconnected for its own good?<\/strong> The risk when this happens is that if one part of the trade falters, it can drag down the rest.<\/p>\n<p>Right on cue, the market wasn&#8217;t impressed. Nvidia fell 5% on Monday, surrendering its title as the world&#8217;s most valuable company to Apple.<\/p><p>Read more <a href=\"https:\/\/americanhomejournals.com\/?p=2724\">Sam Altman says the Hugging Face hack is a reminder that an AI power monopoly could lead to \u2018long-term disaster\u2019<\/a><\/p><div>\n<div>\n<noscript>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" alt=\"Line chart\" class=\"wp-image-2728\" height=\"749\" src=\"https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/aae20048484971a33c7b196ff49bfb87-1024x749.png\" width=\"1024\" srcset=\"https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/aae20048484971a33c7b196ff49bfb87-1024x749.png 1024w, https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/aae20048484971a33c7b196ff49bfb87-300x219.png 300w, https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/aae20048484971a33c7b196ff49bfb87-768x562.png 768w, https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/aae20048484971a33c7b196ff49bfb87.png 1220w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/noscript>\n<\/div><\/div><p>Meanwhile, derivatives-market activity drove home that investors are feeling skittish about Nvidia&#8217;s latest AI obligations. The price of protecting Nvidia debt against default for the next five years spiked the most since the swaps started trading in November, according to Bloomberg data.<\/p><div>\n<div>\n<noscript>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" alt=\"Line chart\" class=\"wp-image-2729\" height=\"747\" src=\"https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/6fd770b9dc51a810b88d9162fe31b89a-1024x747.png\" width=\"1024\" srcset=\"https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/6fd770b9dc51a810b88d9162fe31b89a-1024x747.png 1024w, https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/6fd770b9dc51a810b88d9162fe31b89a-300x219.png 300w, https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/6fd770b9dc51a810b88d9162fe31b89a-768x560.png 768w, https:\/\/americanhomejournals.com\/wp-content\/uploads\/2026\/07\/6fd770b9dc51a810b88d9162fe31b89a.png 1220w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/noscript>\n<\/div><\/div><p>For its part, Wall Street seems largely unfazed. Bernstein analyst Stacy Rasgon, who previously warned about circular financing, responded to the deal flurry by reaffirming his buy rating and $315 price target that sees 60% stock upside. At Monday&#8217;s close, 78 of the 81 analysts tracked by Bloomberg still rated the stock a buy.<\/p><p>But there are big tests ahead this week for Nvidia and the broader AI trade. Hyperscalers Microsoft, Meta, and Amazon are set to report earnings across a two-day period. Investors will be closely watching their capex guidance, having proven sensitive to heavy spending in recent months. (Just ask Alphabet how their capex forecast was received last week.)<\/p><p>Will Nvidia be insulated by its diversified position at the heart of the AI trade? Or will it feel the residual effect of investor disappointment, since it&#8217;s so intertwined with the companies reporting? This is the major tension for Nvidia shareholders this week, since the company itself itself won&#8217;t report until Aug. 26.<\/p><p>Read more <a href=\"https:\/\/americanhomejournals.com\/?p=2722\">Why this AI travel company is bringing Sonder back from the dead<\/a><\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"<p>Investors are starting to worry that the AI trade has become too interconnected for its own good.<\/p>\n","protected":false},"author":1,"featured_media":2727,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-2730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nvidia&#039;s growing web of AI deals has investors asking an uncomfortable question - American home journals<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/americanhomejournals.com\/?p=2730\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nvidia&#039;s growing web of AI deals has investors asking an uncomfortable question - 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