00:00One company is N-Scale's supplier, its shareholder, its lender, and its guarantor.
00:06NVIDIA occupies several positions in that sequence.
00:10It is the essential supplier.
00:12N-Scale says it currently relies on NVIDIA for GPUs, and some customer contracts require NVIDIA hardware.
00:20It is also a shareholder, having held more than 5% of N-Scale since the Series B round in
00:27October 2025.
00:30It is a guarantor, backing up to roughly $860 million of a 5-year Texas site lease,
00:37with N-Scale holding $470 million in escrow against that guarantee.
00:43And it is a financier.
00:45In September 2026, NVIDIA subscribed for $1 billion of convertible notes.
00:52The filing, therefore, presents one company supplying required equipment,
00:56owning equity, supporting a lease, and providing capital.
01:00All without resolving those roles into a simple judgment.
01:05Watch the full breakdown. Tap the related video.
01:08T-Shin
01:08T-Shin
01:08T-Shin
