Amazon Explores $8 Billion Financing Deal for Nvidia Chips

Amazon is exploring a preliminary financing deal involving about $8 billion in Nvidia AI chips, a proposal that could change who owns the hardware while allowing Amazon to keep using it as AWS expands computing capacity.

The proposal would transfer thousands of Nvidia Grace Blackwell chips to a special-purpose vehicle, which would lease them back to Amazon. The vehicle would seek financing through debt issuance, and Amazon could offer investors an equity stake of up to 10%. No transaction has been announced.

Amazon has the chips installed at more than a dozen facilities in five states, among them Nevada and Virginia. The company bought or leased the hardware, so the proposed transfer does not mean it owns every chip in the pool. The precise number of chips and final sale price have not been specified.

The talks come as Amazon Web Services expands its computing capacity. AWS and Nvidia announced Aug. 26, 2026, that they planned to deploy 2 million additional Nvidia GPUs across AWS infrastructure in 2027 and 2028. They also cited an earlier AWS plan to add more than 1 million GPUs starting in 2026.

The announced GPU plans do not establish whether any of those processors are part of the proposed transfer. The reported terms also do not specify the lease duration, investor returns or final mix of debt and equity.

A sale-and-leaseback arrangement would change ownership of the hardware while allowing Amazon to keep using it. The terms disclosed so far do not establish how a transaction would affect the company’s capital spending, cash flow or accounting. The discussions remain preliminary, with no announced deal or completion date.