Why is Nvidia partnering with Wall Street firms like BlackRock?

Nvidia realized that its advanced chips are becoming too expensive for many clients. By partnering with major institutional asset managers, they are helping create a massive financing pool so customers can borrow the money needed to keep buying Nvidia hardware.

Why would Nvidia invest in open-source AI companies?

Nvidia is hedging its bets. By investing billions into open-source software builders, they guarantee that even if developers abandon closed models, the new open-source ecosystem is still being built exclusively on Nvidia compute power.

Is Nvidia acting like a monopoly in AI?

Nvidia earnings have become Wall Street’s Super Bowl. Retail traders are sweating over whether CEO Jensen Huang can beat a staggering $92 billion revenue projection. But Troy Millings thinks they are entirely missing the plot.

Nvidia is no longer a hardware company. It is a central bank. On a recent episode of Earn Your Leisure, Millings laid out the terrifying, brilliant reality of the company’s endgame. They are using their absurd 75 percent profit margins to buy up the entire ecosystem that relies on them.

Financing the bubble

Look at the recent investments. CoreWeave. Groq. And now Poolside, an open-source AI builder. Why is a GPU manufacturer dropping billions into open-source software? Because it guarantees that no matter who wins the artificial intelligence software wars, the winner is running on Nvidia compute.

I’m looking at this as the central bank now… This is about complete dominance in a space and covering every angle of it.

Troy Millings, on the episode 47:48

When critics worried the AI bubble would pop because smaller firms couldn’t afford Nvidia’s H200 chips, Huang didn’t lower prices. Instead, he raised them by 15 percent. Then, Nvidia partnered with Wall Street titans to create a $500 billion financing arm. Now, institutions can just borrow the money to buy Nvidia’s product. It is a closed-loop system of capital.

When everyone was calling calling for a bubble or crash, they provided or it created the liquidity with the partnerships so that that trade won’t go away

Ian Dunlap, on the episode 50:51

The Microsoft parallel

Ian Dunlap, Millings’ co-host and resident chart-reader, takes the historical view. He points out that creating an indestructible moat by making your partners entirely dependent on your capital has a very specific precedent.

for our generation he’s running Nvidia almost as good as Gates ran Microsoft… bro they gave Gates monopoly charges and broke up the company.

Ian Dunlap, on the episode

The irony is that retail investors are still treating Nvidia like a volatile tech stock they need to day-trade. But if Millings and Dunlap are right, Nvidia has effectively rigged the casino. By becoming the market maker, the venture capitalist, and the infrastructure provider all at once, they have engineered a reality where the house literally cannot lose. The only question now is whether the Justice Department figures it out before Nvidia hits a $10 trillion valuation.