The 2X NVIDIA ETP (07788) surged over 5% in trading, last seen up 5.38% at HKD 181.05, with a turnover of HKD 855,400.
On the news front, NVIDIA (NVDA.US) recently signed a memorandum of understanding with six financial institutions, including Apollo Global Management, BlackRock, Blackstone, Brookfield Asset Management, Goldman Sachs, and KKR. The agreement establishes an independent computing financing platform aimed at mobilizing over $500 billion in third-party capital for AI infrastructure construction over the long term. This platform will provide NVIDIA customers with financial support for computing procurement at attractive financing rates.
Bank of America Securities views this move as positive, expecting the financing burden to fall on the consortium's balance sheet rather than NVIDIA's alone, thereby diversifying risk. The bank also estimates that NVIDIA's direct equity investments of approximately $70 billion in ecosystem partners like OpenAI represent only about 15% of its projected free cash flow of roughly $469 billion for fiscal 2026 and 2027, limiting the impact on shareholder returns. Additionally, NVIDIA's upcoming earnings release will be the next major catalyst for the stock.
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