What is Amazon’s reported proposal to transfer about $8 billion of Nvidia Grace Blackwell chips in its US data centres to a special purpose investment vehicle and lease them back, how would the vehicle raise debt and offer investors up to a 10% equity stake, and what would the ar

Amazon is reportedly exploring a sale-and-leaseback of about $8 billion of Nvidia Grace Blackwell chips: an investment vehicle would hold the hardware, while Amazon would lease it back and keep using it. The aim is to bring outside financing into its AI build-out and improve its balance-sheet position, but this remains a reported proposal, not a confirmed deal.12

• Structure: Reports describe thousands of chips installed across more than a dozen US data centres moving into a special-purpose vehicle. The vehicle would raise debt and could offer outside investors up to a 10% equity stake; Amazon’s lease payments would support the financing while it retained use of the chips.12
• Financial effect: The proposal is intended to shift ownership and funding of costly hardware away from Amazon as AI spending rises. Whether it would actually remove the chips or related lease obligations from Amazon’s reported balance sheet depends on the final terms and accounting treatment; that outcome has not been established.15
• Talks and context: Amazon has reportedly sounded out investors in recent weeks. The idea comes amid heavy borrowing by large technology companies to build AI data centres.234
• Reaction and status: One report said Amazon shares edged up about 0.6% in premarket trading after the story, but that limited move does not establish investor support for the transaction.10 No completed transaction or agreed financing terms have been confirmed in the available reporting.12