The Central Bank of AI: How Nvidia’s Balance Sheet Became the Ultimate Engine of the Tech Boom

SANTA CLARA, Calif. — Just five years ago, the semiconductor giant Nvidia participated in a single venture funding round valued at $100 million or more. It was a standard corporate venture profile for a dominant hardware manufacturer: opportunistic, selective, and largely peripheral to the day-to-day capital formation of Silicon Valley. Today, that landscape has been…

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