Nvidia offers to take a cut of AI cloud revenue on top of hardware sales in new optional financing vehicle — trades tokens for revenue cut - Tom's Hardware

NVIDIA has introduced a new business model enabling it to generate revenue twice from the same hardware: once through initial hardware sales and again via a percentage of the ongoing revenue generated... Read original →

NVIDIA’s move signals a strategic pivot from chip vendor to AI infrastructure gatekeeper. Technically, the high-power GB300 and H200 architectures demand sustained utilization—tying hardware to cloud revenue ensures load stability, which in turn pressures partners to optimize software stacks, reinforcing CUDA lock-in. On compliance, linking hardware exports to recurring service income may trigger secondary U.S. export controls, especially if funded startups have ties to Taiwan, China or Gulf investors. Competitively, AMD and Intel may rush to offer chip-financing bundles, but without full-stack software, they can’t replicate NVIDIA’s closed loop; hyperscalers like AWS will likely accelerate in-house AI ASIC adoption to avoid revenue sharing. Within 18 months, if adopted by OpenAI or xAI, this model could redefine data center CAPEX/OPEX structures, forcing the semiconductor industry to shift from 'selling shovels' to 'collecting mining royalties.'