MS · News · 20260825N

AI Infrastructure Financing

MORGAN STANLEY · 2026-08-25 · Importance 17 · Surprise 24

Morgan Stanley expects Nvidia’s financing of the broader AI ecosystem to create credit risks that are not fully captured by conventional credit metrics. The firm estimates Nvidia’s all-in credit exposure could reach approximately $200 billion by the end of 2028. Morgan Stanley nevertheless said Nvidia’s credit metrics remain sound when assessed against this broader exposure measure.

Key facts

• MORGAN STANLEY initiated credit coverage of Nvidia with a neutral view and projects approximately $200 billion in all-in credit exposure for Nvidia by the end of 2028 due to its financing of the broader AI ecosystem. source