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The pair will deploy an additional 2 million Nvidia GPUs across Amazon’s global infrastructure in 2027 and 2028, Nvidia finance chief Colette Kress said on an earnings call.

Nvidia is bolstering support for Chinese artificial intelligence models in a play to beat domestic chipmakers to optimizing hardware for the systems. The move comes amid growing unease among U.S. lawmakers about the adoption of Chinese AI models by American companies.

Kress, in her CFO commentary, said supply and capacity commitments surged from $119 billion to $279 billion, driven by rising memory costs, a persistent boogeyman that has been behind rising prices all around the tech sector. During the call, Kress clarified further that the magnitude of memory prices led Nvidia to reset expectations, given the higher prices expected next year, said Kress.

Check out the companies making the biggest moves premarket: Nvidia — Shares for the artificial intelligence and infrastructure company rose over 7% in premarket trading after beating expectations on both lines in the second quarter and reporting that revenue more than doubled on Wednesday. Nvidia earned $2.22 per share after adjustments and $96.22 billion in revenue against analyst consensus estimates of $2.10 per share and $92.17 billion in revenue, according to LSEG. The company expects revenue to rise to $108 billion in the third quarter, also higher than expected. Dollar General — The discount retailer jumped 12% after raising its full-year earnings guidance. The company now sees profit between $7.80 and $8 per share, up from a previous range of $7.20 to $7.45 per share.

With around 40% of the US stock market concentrated in ten companies heavily invested in AI, Nvidia's fortunes matter far beyond Silicon Valley.

‘We see it differently’ While the booming demand for AI chips has made Nvidia the world’s most valuable company, with a market cap of more than $5 trillion, critics have warned about the company’s spate of investments in other companies within the AI industry, from data center operators to frontier model makers like Anthropic. Many view the deals, which Nvidia is financing from its massive cash pile, as creating dangerous interdependencies with the AI business.

There is also mounting scrutiny of Nvidia’s role in the AI boom’s complex financing ecosystem after the company agreed to guarantee some deals under a new tie-up with six major financial institutions, which aims to raise more than $500 billion for AI infrastructure.

Still, Nvidia’s involvement has been critical and substantial and, moreover, has led to a drag on the stock price. The company disclosed maximum gross guarantee exposure of $108.5 billion, which mostly stems from credit support for SB Energy’s Ohio tech campus, which will host Nvidia compute leased to OpenAI. The rest is due to $3.5 billion backing lease obligations for AI cloud partners. Nvidia has also publicized investments of nearly $50 billion in frontier AI labs and has partnered with private equity giants Apollo, BlackRock, Blackstone, Goldman Sachs, and KKR to raise more than $500 billion in third-party capital for AI infrastructure.

Nvidia expects revenue to grow by about 70% in fiscal 2028. VCG via Getty Images

Nvidia forecast third-quarter revenue of $108 billion, plus or minus 2%, compared with analysts' average estimate of $104.19 billion, according to data compiled by LSEG. REUTERS