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# Nvidia

2026-08-29

Three Founders Spent a Decade Building an AI Community. Nvidia May Pay $12.9 Billion for It

Hugging Face began as an AI Tamagotchi for teenagers. A weekend PyTorch port of Google's BERT revealed the product developers actually wanted. Ten years later, Nvidia reportedly wants to acquire the company for $12.9 billion—not for its current revenue, but for the front door to open AI.

2026-08-05

Why Is Google Guaranteeing $43.8B of Other People's Data Center Rent? TPU Operators Borrow at 7.1%, Nvidia's at 9.3%

There's a number in Alphabet's Q2 2026 10-Q: as of June 30, Google had committed to cover up to $43.8 billion in third-party data center lease payments if tenants default. Nine months earlier that figure was $6.5 billion — a sevenfold increase. None of those data centers are Google's. What the guarantee buys is very concrete: with Alphabet standing behind them, operators running Google TPUs borrow at 7.1% while comparable projects in Nvidia's ecosystem pay 9.3% — a structural 2.2-point gap. At the other end of the chain sits Anthropic: run-rate revenue just past $30 billion, up from about $9 billion at the end of 2025, but with no credit rating and no way to borrow at this scale on its own. In between stand Morgan Stanley's Compute SPV, Broadcom as residual-value guarantor, and crypto miners supplying grid power. This piece takes apart how the machine works, why Google would rather keep $43.8B of exposure off its balance sheet, and the path the risk travels back.

2026-07-21

The 100 PMs Who Changed the World · No. 13 | Jensen Huang: The Most Expensive Company on Earth — Stuck Outside the Pantheon of Product Managers

No. 13 on the list is Jensen Huang, OVR 94, stuck one full point outside the Pantheon (the 95 line). Just this month, OpenAI's GPT-5.6, xAI's Grok 4.5, Moonshot's Kimi K3, and Meta's Muse Spark took turns dropping new models to grab headlines — but they all run on Jensen Huang's chips. Nobody knows who wins the model war; the man selling the shovels wins for sure. His NVIDIA soared to a $5.4 trillion market cap, the most valuable company on this planet. And yet a man standing at the very core of the AI era can't get into the Pantheon on this product-manager list, ranking only in the Legends tier. The answer hides in the two lowest of his six dimensions: Taste 83, Insight 87. This isn't a knock on him — it's precisely the key to understanding him. He's the most profitable kind of product manager of this era, and that kind of product manager doesn't run on taste.