? unverified
It's kind of like having your parents co-sign on your first mortgage
Forward characterization; not yet resolvable, since no unwind has occurred. The structures have instead expanded: Bloomberg counts more than $540 billion of Nvidia customer and partner deals announced in 2026, and Google has agreed to backstop Anthropic's leases in what amounts to a $35 billion arrangement. Whether any of it unwinds badly stays open, with the horizon running to 2028.