Amazon Held Talks on $8B Grace Blackwell Chip Leaseback

Amazon has held talks with investors about a deal to spin off $8 billion of Grace Blackwell chips into an SPV, according to reports carried by Techmeme and The Tech Street Now. [1][3] Under the reported structure, Amazon would then lease the chips back for its United States data centers after spinning the $8 billion chip package into the SPV. [1][3]

Moneycontrol's headline describes the proposal as having investors own $8 billion of Nvidia AI chips and then lease that hardware back to Amazon under the reported arrangement. [2] The Techmeme and Tech Street Now reports specify Grace Blackwell chips, while all three source headlines present the transaction as a proposal or talks, not a completed deal. [1][2][3]

The proposal separates ownership of the accelerators from Amazon’s use of them: investors would hold the $8 billion chip package while Amazon would lease it for US data centers. That makes the SPV, rather than a new chip or data-center design, the central feature of the reported talks. Grace Blackwell is named by Techmeme and The Tech Street Now, while Moneycontrol uses the broader description “Nvidia AI chips,” aligning the sources on vendor and value but not specificity. What the sources don't address: whether the talks will produce a deal, who the investors are, or what lease terms Amazon would accept.