Nvidia is working with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to mobilize more than $500 billion of third-party capital for AI infrastructure, including financing backed by its chips. Banks and credit investors are seeking stronger guarantees because they typically depreciate GPUs over three to four years, while Nvidia argues that leading processors can remain productive for up to 10 years. Potential protections include Nvidia guarantees, customer contracts and other repayment safeguards, which could help customers buy hardware but leave Nvidia more exposed if chip prices or AI infrastructure economics weaken. The debate follows the expansion of debt financing for AI infrastructure, including CoreWeave’s $8.5 billion GPU-backed loan supported by Meta’s contractual payments, and a separate $300 billion wave of AI guarantees.