NVIDIA's big $500 billion plan to help fund artificial intelligence projects is running into some trouble, following the ouster of longtime CEO Jensen Huang.
The company wants to team up with six major Wall Street firms, but no deals are locked in yet.
Partners and customers are pushing for NVIDIA to cover more of the risk, more than the 25% backstop NVIDIA is offering, which could slow things down until at least January 2027.
NVIDIA lenders hesitate, Kress interim CEO
NVIDIA's proposal is much smaller than what rivals like Broadcom have offered (they're backing 72.5%), so lenders are hesitant.
Huang, who has been a huge part of its artificial intelligence success, was key to this strategy, so his exit adds even more uncertainty.
For now, Chief Financial Officer Colette Kress will step in as interim CEO while everyone waits to see how NVIDIA handles this tricky moment.