Nvidia as the AI "Central Bank"? $530 Billion Off-Balance-Sheet Commitments Emerge Behind Strong Earnings, Credit Markets on High Alert

From chip titan to "AI central bank," Nvidia is turning its balance sheet into a financing engine for the AI supply chain. While stellar earnings preview quarterly revenue of $100 billion, they also expose over $530 billion in off-balance-sheet commitments and a $36 billion cash flow gap. Behind the earnings celebration, the massive "circular financing" risk has put credit markets on high alert.