Amazon in Talks to Move $8B in Nvidia AI Chips to Special Purpose Vehicle

Key Facts

1Amazon is in talks to move $8 billion worth of NVIDIA Grace Blackwell chips into a special purpose vehicle (SPV).

Amazon is in talks to move $8 billion worth of NVIDIA Grace Blackwell chips into a special purpose vehicle (SPV). The Financial Times reported that the move aims to shift the financing model for AI infrastructure, potentially reducing direct capital expenditure on the company's books while maintaining access to critical hardware.

AMZN closed at $251.52 on October 2, 2026, while NVDA closed at $233.95 on the same date. These negotiations follow a rise in Amazon's long-term debt to $119.1 billion, while its free cash flow over the past 12 months turned negative at -$7.6 billion according to company financial records.