Amazon Seeks to Move $8 Billion of Chips Off Its Books, FT Says

Amazon.com Inc. is exploring a deal to shift about $8 billion of Nvidia Corp.’s top-end chips off its balance sheet, according to the Financial Times.

The move would offload thousands of Grace Blackwell chips across more than a dozen US data centers into a special-purpose vehicle funded by outside investors, the paper said, citing people familiar with the matter. The structure would let Amazon keep using the hardware while adopting a more asset-light financing model. The vehicle could issue debt and sell up to a 10% equity stake to investors, the paper said.

Amazon and Amazon Web Services Inc. representatives did not immediately respond to e-mailed requests for comment outside of regular office hours.

The deliberations reflect the increasingly elaborate financing being used to support the AI infrastructure boom, as the world’s big tech providers spend hundreds of billions of dollars on hardware and data centers.