Michael Burry criticized Nvidia Corp.’s effort to unlock more than $500 billion for artificial intelligence infrastructure, arguing the structure depends on opaque private credit arrangements rather than straightforward balance-sheet financing. Nvidia recently signed a memorandum of understanding with Apollo Global Management, BlackRock, Blackstone, Brookfield Asset Management, Goldman Sachs and KKR to build compute financing platforms that would help hyperscalers and enterprises fund data centers through institutional credit. Jensen Huang said the initiative marks the first time chips have become an investable asset class, comparable to productive infrastructure, but Burry said the plan involves Nvidia taking 25% stakes and providing residual value guarantees on chip purchases. He described the setup as being routed through private equity private credit schemes and warned, "Meet the new Boss. Same as the old Boss." Skepticism has also come from market strategist Ed Yardeni, who said Wall Street’s reaction to the non-binding agreements was "kind of ho hum" and warned on CNBC that there is "a little bit of hype so far." The debate comes as Goldman Sachs Research estimated AI-related debt issuance at nearly $500 billion in 2026 and the BIS (Bank for International Settlements, global central bank forum) warned that BDCs (Business Development Companies, listed private credit lenders) had lent $115 billion to software firms, exposing private credit portfolios to unpriced generative AI risks. Nvidia shares were up 16.62% year-to-date, 19.47% over the last year and 14.44% over six months, closing 0.02% lower at $217.50 on Tuesday before rising 1.17% in Wednesday premarket trading.