If we assume they've invested up to $70B in other companies, which is the estimated value of their equity investments, then that implies that a maximum of 10% of that estimated revenue demand is coming directly circularly... and that assumes these companies spend the entirety of their invested capital on Nvidia infr in one year which seems unlikely so probably much lower.
Still that's not to say these companies aren't leveraging the Nvidia capital with others' in a way that magnifies or multiplies some of the effect.
But it looks like a second order contributor unless Nvidia's actions are acting like a backstop that causes way more risk and leverage to pile up in a way that could come tumbling down
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If we assume they've invested up to $70B in other companies, which is the estimated value of their equity investments, then that implies that a maximum of 10% of that estimated revenue demand is coming directly circularly... and that assumes these companies spend the entirety of their invested capital on Nvidia infr in one year which seems unlikely so probably much lower.
Still that's not to say these companies aren't leveraging the Nvidia capital with others' in a way that magnifies or multiplies some of the effect.
But it looks like a second order contributor unless Nvidia's actions are acting like a backstop that causes way more risk and leverage to pile up in a way that could come tumbling down