# Amazon wants investors to own $8 billion of its Nvidia chips — and rent them back

> A reported sale-and-leaseback of Grace Blackwell chips shows how AI hardware is becoming a financial asset, like aircraft or office towers.

- Publisher: NextDiff (https://nextdiff.com/)
- Section: Hardware
- Author: NextDiff Editorial
- Published: 2026-10-06T19:14:57.607Z
- Updated: 2026-10-07T04:51:55.264Z
- Canonical URL: https://nextdiff.com/posts/amazon-8-billion-nvidia-chips-sale-leaseback/
- Topics: amazon, nvidia, gpus, data-centres

## In short

Amazon is in talks to move about $8 billion of Nvidia Grace Blackwell chips into a special-purpose vehicle funded by outside investors, the Financial Times reported on October 2, 2026. Amazon would offer up to 10% equity and lease the chips back, keeping them running in more than a dozen US data centres.

## Key takeaways

- Amazon is in talks to move about $8 billion of Nvidia Grace Blackwell chips into a special-purpose vehicle, the FT reported.
- The vehicle would raise debt from outside investors, Amazon would offer up to 10% equity, and then lease the chips back.
- It is a sign of how expensive AI hardware has become — and of a new market for financing it.

Amazon is seeking to move roughly **$8 billion** of Nvidia’s advanced **Grace Blackwell** chips off its balance sheet, the Financial Times reported on October 2, according to [Reuters’ summary of the report](https://www.thestar.com.my/tech/tech-news/2026/10/02/amazon-seeks-to-offload-8-billion-of-nvidia-chips-to-investors-ft-reports).

## How would the deal work?

- Thousands of chips Amazon is installing in **more than a dozen U.S. data centres across five states**, including Nevada and Virginia, would be moved into a **special-purpose vehicle (SPV)**.
- The SPV would raise money from outside investors through debt; Amazon would offer an **equity stake of up to 10%**.
- Amazon would then **lease the chips back** and keep using them.

If the vehicle earns an investment-grade credit rating, long-term investors such as insurers and pension funds could join, [Techzine notes](https://www.techzine.eu/news/infrastructure/144713/amazon-plans-to-secure-external-financing-for-8-billion-in-ai-chips/). The talks are at an early stage, and Amazon and Nvidia did not immediately comment to Reuters.

## Why it matters

AI infrastructure is now so expensive that even the largest cloud providers are looking for ways to spread the cost. Sale-and-leaseback is an old tool — airlines and retailers use it for planes and property — but applying it to GPUs is newer, and it tells you two things:

1. **GPUs are being treated as financeable assets**, with predictable lease income attached.
2. **The bet is on long useful lives.** Chips depreciate fast as new generations arrive. Investors will want lease terms that match how long Grace Blackwell stays competitive — which is exactly the number nobody knows yet.

## What to watch

If the deal closes, expect copycats from other hyperscalers and neoclouds, and a growing market where GPU capacity is packaged, rated and sold like any other infrastructure asset. For builders, that could mean more capacity coming online faster — and more of it owned by people who care about utilisation above all else.

Related: [Nebius buys Inferize to keep expensive GPUs busy instead of idle](/posts/nebius-acquires-inferize-ai-cold-starts/).

## Questions readers ask

### What is Amazon's Nvidia chip deal?

According to the FT, Amazon is in talks to move roughly $8 billion of Nvidia Grace Blackwell chips into a special-purpose vehicle that raises debt from investors, then lease the chips back so it can keep using them.

### Why would Amazon sell its AI chips and lease them back?

A sale-and-leaseback moves expensive hardware off Amazon's balance sheet and spreads the cost of AI infrastructure to outside investors, a model long used for aircraft and property.

### Where are the chips located?

The chips are installed in more than a dozen US data centres across five states, including Nevada and Virginia, according to the report.

## Sources

- [Reuters via The Star — Amazon seeks to offload $8 billion of Nvidia chips to investors, FT reports](https://www.thestar.com.my/tech/tech-news/2026/10/02/amazon-seeks-to-offload-8-billion-of-nvidia-chips-to-investors-ft-reports)
- [Techzine — Amazon plans to secure external financing for $8 billion in AI chips](https://www.techzine.eu/news/infrastructure/144713/amazon-plans-to-secure-external-financing-for-8-billion-in-ai-chips/)