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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thoughts](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 24 Sep 2026 - - - #### The stock market loves Nvidia. The credit market is asking a harder question: who pays for the AI buildout? The credit market is asking a harder question: who pays for the AI buildout? The cost of insuring Nvidia’s debt against default has roughly doubled this year. SpaceX credit default swaps have approached 180 basis points. Both companies sold $25 billion of bonds in June, while hyperscalers are on track to spend more than $750 billion on data centers in 2026. Equity investors see growth, revenue and momentum. Credit investors are looking at the debt needed to fund it—and the returns required to repay it. Rising insurance costs do not mean a default is coming. But they do show that lenders are reassessing the risk. The stock price tells you how excited investors are about AI. Credit spreads tell you what financing that excitement costs. Watch both. $NVDA Source: Kurt S. Altrichter, CRPS [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) ![The stock market loves Nvidia. The credit market is asking a harder question: who pays for the AI buildout?](https://blog.syzgroup.com/hubfs/1790258946005.jpg) ![The stock market loves Nvidia. The credit market is asking a harder question: who pays for the AI buildout?](https://blog.syzgroup.com/hubfs/1790258946005.jpg) 21 Sep 2026 - - - #### Nvidia CEO Jensen Huang’s position as the leader of the world’s most valuable company and the chipmaker at the heart of the AI boom has earned him U.S. President Donald Trump’s favor. Huang is pushing for faster U.S. AI development and says safety concerns are a matter for “good old-fashioned engineering,” putting him at odds with other industry leaders calling for a slowdown and greater oversight. Trump is increasingly mirroring Huang’s policy stances on AI topics, telling Huang that “the robots are not going to be taking over the world.” Source: CNBC [#AI|](https://blog.syzgroup.com/syz-the-moment/tag/ai) [#nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) ![Nvidia CEO Jensen Huang’s position as the leader of the world’s most valuable company and the chipmaker at the heart of the AI boom has earned him U.S. President Donald Trump’s favor.](https://blog.syzgroup.com/hubfs/1789967017124.jpg) ![Nvidia CEO Jensen Huang’s position as the leader of the world’s most valuable company and the chipmaker at the heart of the AI boom has earned him U.S. President Donald Trump’s favor.](https://blog.syzgroup.com/hubfs/1789967017124.jpg) 7 Sep 2026 - - - #### Welcome to the AGI era. That's how OpenAI's Greg Brockman closed the GPT-6 Astra launch. The headlines: → Trained on 100,000+ GPUs at Stargate, Texas → Claims the lead in coding, science, reasoning and cybersecurity → Works inside software: spreadsheets, 3D worlds, circuit boards, tax forms → First model to hit OpenAI's "Critical" cyber threshold — access restricted via Daybreak → Priced at 2.5x GPT-5.6 Why this matters for AI hardware & memory chips: 1) 100k GPUs for one model = the compute race is accelerating, not plateauing. 2) Agentic models that build, reason and act burn far more inference tokens. Inference = sustained demand for HBM and DRAM, not one-off training spend. 3) 2.5x pricing shows customers will pay for capability → hyperscaler capex stays funded. The picks-and-shovels trade remains alive and well. [#AI|](https://blog.syzgroup.com/syz-the-moment/tag/ai) [#nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) ![Welcome to the AGI era.](https://blog.syzgroup.com/hubfs/1788758523169.jpg) ![Welcome to the AGI era.](https://blog.syzgroup.com/hubfs/1788758523169.jpg) 1 Sep 2026 - - - #### $NVDA now trades under 10x GS’s updated 2028 EPS estimates, per GS’s Peter Callahan Chart below is the relative performance of Nvidia relative to the broader semiconductors SOX index. Source: Bloomberg, GS, Negligible capital on X [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) ![$NVDA now trades under 10x GS’s updated 2028 EPS estimates, per GS’s Peter Callahan](https://blog.syzgroup.com/hubfs/1788207871273.jpg) ![$NVDA now trades under 10x GS’s updated 2028 EPS estimates, per GS’s Peter Callahan](https://blog.syzgroup.com/hubfs/1788207871273.jpg) 11 Aug 2026 - - - #### Nvidia Expands Into AI Infrastructure Finance Nvidia is reportedly forming a major AI infrastructure investment partnership with some of the world’s largest private-capital firms, including Apollo, Blackstone, BlackRock, Brookfield, Goldman Sachs and KKR. The objective: mobilise huge pools of private capital to finance the chips, data centres and power infrastructure required for the AI build-out. The scale is enormous: Morgan Stanley estimates hyperscalers will spend $3.5 trillion between 2026 and 2028, while Apollo believes total AI infrastructure investment could eventually exceed $8 trillion. Nvidia is moving beyond selling GPUs. It is increasingly helping customers finance the infrastructure needed to buy and deploy its chips—including providing financial backing and potentially guarantees. Nvidia is separately discussing a massive guarantee for a 10GW Ohio data-centre project leased to OpenAI, highlighting how deeply it could become involved in financing the AI ecosystem. Private capital is becoming critical. AI investment requirements are now too large to be financed through corporate cash flows alone, pushing tech companies toward private credit, bonds, securitisation, project finance and equity. The risk: Nvidia financing or guaranteeing customers that ultimately purchase Nvidia chips creates concerns around “circular financing” and increasingly concentrated financial exposure across the AI ecosystem. Bottom line: Nvidia is evolving from the AI boom’s dominant chip supplier into something closer to its financial architect. Partnering with private-capital giants could unlock trillions for AI infrastructure—but also further intertwines Nvidia’s financial fortunes with the customers driving its extraordinary revenue growth. Source: FT [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) ![Nvidia Expands Into AI Infrastructure Finance](https://blog.syzgroup.com/hubfs/1786394987820.jpg) ![Nvidia Expands Into AI Infrastructure Finance](https://blog.syzgroup.com/hubfs/1786394987820.jpg) 17 Jul 2026 - - - #### In case you missed it Apple $AAPL surpasses Nvidia $NVDA as the World's Most Valuable Company ($4.92 Trillion vs. $4.86 Trillion in early hours trading) Source: Barchart [#apple|](https://blog.syzgroup.com/syz-the-moment/tag/apple) [#nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) ![In case you missed it](https://blog.syzgroup.com/hubfs/1784281009665.jpg) ![In case you missed it](https://blog.syzgroup.com/hubfs/1784281009665.jpg) 3 Jul 2026 - - - #### Trump's updated portfolio heavy on semiconductors (10% NVIDIA, 4.5% Qualcomm, 4% Micron, and 5% Intel) Source: Rand Group [#United States|](https://blog.syzgroup.com/syz-the-moment/tag/united-states) [#nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) ![Trump's updated portfolio](https://blog.syzgroup.com/hubfs/3-Jul-03-2026-02-33-44-0973-PM.jpg) ![Trump's updated portfolio](https://blog.syzgroup.com/hubfs/3-Jul-03-2026-02-33-44-0973-PM.jpg) 16 Jun 2026 - - - #### Nvidia is planning to sell at least $20bn of investment-grade debt in the US its first bond sale in more than five years in a test of investor appetite for further exposure to the AI sector. Source: FT [#Fixed Income|](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) [#nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) ![Nvidia is planning to sell at least $20bn of investment-grade debt in the US its first bond sale in more than five years in a test of investor appetite for further exposure to the AI sector.](https://blog.syzgroup.com/hubfs/9-Jun-16-2026-02-37-41-1492-PM.jpg) ![Nvidia is planning to sell at least $20bn of investment-grade debt in the US its first bond sale in more than five years in a test of investor appetite for further exposure to the AI sector.](https://blog.syzgroup.com/hubfs/9-Jun-16-2026-02-37-41-1492-PM.jpg) [1](https://blog.syzgroup.com/syz-the-moment/tag/nvidia/page/1) [2](https://blog.syzgroup.com/syz-the-moment/tag/nvidia/page/2) [3](https://blog.syzgroup.com/syz-the-moment/tag/nvidia/page/3) [4](https://blog.syzgroup.com/syz-the-moment/tag/nvidia/page/4) [5](https://blog.syzgroup.com/syz-the-moment/tag/nvidia/page/5) [❯](https://blog.syzgroup.com/syz-the-moment/tag/nvidia/page/2) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/nvidia/page/33?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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