Editorial companion

What stands out

CNBC’s Squawk Box Europe flagged something more structural than a headline deal: Nvidia has corralled six heavyweight asset managers, including Apollo, Blackstone, Brookfield, BlackRock, KKR and Goldman Sachs, to source over $500 billion in third-party financing for AI infrastructure. That is not just cheap money for chips. It is a way to speed data center rollouts, lock customers into Nvidia’s stack, and move financing risk off Nvidia’s balance sheet, which could entrench its economic moat while raising questions about circular financing and concentration of power.