Nvidia shares fell 2.86% as investor Mark Cuban compared the chipmaker's role in artificial intelligence spending to the IPO engine of the dot-com bubble and warned the market could "crumble" if today's financing structure unravels. The concern centers on Nvidia's deep exposure to AI infrastructure funding through GPU purchase financing, revenue-sharing and minimum-revenue-guarantee arrangements, alongside a large investment book that stood at $42.3 billion in private investments and $27 billion in conditional commitments as of the first quarter of fiscal 2026 ended April 26, 2026. Analysts say that model concentrates risk across private credit, securitization and off-balance-sheet vehicles, while the fast depreciation of GPUs could weaken collateral values if demand slows. The debate intensified after reports that Nvidia is discussing a $500 billion fundraising plan with BlackRock, Brookfield, Goldman Sachs and KKR for AI infrastructure. Skeptics see higher danger for neocloud and data center operators that still depend heavily on outside capital, including CoreWeave and Nebius, whose capital spending far exceeded revenue in the figures cited. At the same time, Bank of America argued the warning does not apply evenly across the sector and said large cloud providers and profitable AI chip and networking companies can support more of their expansion from operating cash flow. Broader market pressure came from geopolitics. A deadlock in U.S.-Iran talks over reopening the Strait of Hormuz, a key global oil shipping chokepoint, sent WTI and Brent up about 5%, pushed the 10-year U.S. Treasury yield to 4.70% and weighed on equities. The Philadelphia Semiconductor Index slid 2.94%, with Intel down 4.06%, AMD off 2.86% and Apple, Broadcom and Micron also lower, while SanDisk, Microsoft and Palantir rose. Despite the selloff, BofA maintained its Buy rating and $350 price target on Nvidia. It expects second-quarter results due after the market close on August 26 to beat expectations, with revenue of $94-$95 billion versus company guidance of $91 billion, and forecasts next-quarter guidance of $107-$108 billion, above the roughly $104 billion Wall Street consensus. Investors are also watching the three-day Jackson Hole meeting beginning August 27, with options markets implying elevated volatility as the two events overlap.