Zan Digital › Companies
Nvidia
Every piece of Zan Digital analysis that covers Nvidia — 7 pieces, each figure traced to a named source.
- 001AI Capex 2026: The $725B Bet With No Payback MathFour hyperscalers plan roughly $725B of capex in 2026, up 77% on 2025. Here is where the money goes, what it earns today, and the three numbers to watch.$725B
- 002AI Circular Deals: Who Actually Pays Whom, and How MuchNvidia's up to $100B commitment to OpenAI was finalised at $30B. A map of the AI circular deals: what is signed, what is only intent, and why it matters.$100B → $30B
- 003CoreWeave Debt: $35.6B and Where the Stress SitsCoreWeave carries $35.6B of debt against a $104B backlog. The spread ladder from SOFR plus 225 to plus 550 shows exactly where lenders price the risk.$35.6B
- 004Dot-Com vs AI Bubble: Six Metrics Where It Breaks DownEveryone compares 2026 to 2000. On six metrics, from P/E ratios to profitability, the comparison mostly fails. Here is the one place it does hold.60x vs 23x
- 005GPU Depreciation: The $176B Accounting Question in AIHyperscalers depreciate AI hardware over 5 to 6 years. One investor puts the resulting overstatement at $176B through 2028. Both sides of the argument, checked.$176B
- 006The AI Revenue Leaderboard: Who Has Real RevenueCommitments, run rates and bookings get reported as if interchangeable. A ranking by revenue quality rather than headline number, with what each figure means.~$47B
- 007The IMF Warned on AI Valuations. The Optimists AnsweredThe IMF flagged correction risk in AI-exporting economies. Supporters argue compute scarcity makes the spending rational. Both cases, and what would settle it.Jul 2026