Amazon Seeks to Transfer $8B of Nvidia Chips to Investors via SPV

The move matters less as a chip sale than as a financing structure: an SPV shifts depreciation and residual-value risk on AI hardware off Amazon's books and onto investors, effectively turning compute into a tradable asset class. That affects anyone underwriting data-center capex or holding AI-linked credit, since it changes who ultimately bears obsolescence risk as GPUs age faster than typical infrastructure. The open question is whether this becomes a template other hyperscalers copy, and how investors price depreciation curves on hardware whose useful life is still genuinely contested.