Bloomberg 2026-03-14-2
Nvidia's $2B Nebius Deal: Vendor Financing or Infrastructure Build?
Nvidia's $2B Nebius investment is the third multi-billion neocloud financing in three months, all inference-focused. The Lucent parallel sharpens: the last time a hardware company financed its own customers at this scale, it ended with billions in write-offs. Nobody's publishing the delta between Nvidia's reported revenue growth and organic, non-financed demand growth.