Nvidia is down 4.5% — and it's guaranteeing $250B to keep the dream alive

nvidia is negotiating a $250b backstop for an openai-led data center, effectively financing two-thirds of its own chip sales to sustain demand. the market reacted negatively, sending shares down 4.5%, with critics like james chanos labeling the move a sign of a credit cycle peak. this skepticism contrasts with the 2025 oracle-openai deal and coincides with apple overtaking nvidia in market cap. the shift suggests investors are losing patience with ai infrastructure bets that rely on creative accounting rather than tangible earnings.