Chart of the Day

The circular capital stack

The circular capital stack. All figures from NVIDIA’s Form 8-K (17 August 2026), the NVIDIA and OpenAI releases (17 August) and the US DOE fact sheet (February 2026). The $105bn is a contingent cap, not deployed capital.

UAO Editorial August 18, 2026 1 min read
The circular capital stack
Chart of the day

The circular capital stack. All figures from NVIDIA’s Form 8-K (17 August 2026), the NVIDIA and OpenAI releases (17 August) and the US DOE fact sheet (February 2026). The $105bn is a contingent cap, not deployed capital.

Chart of the Day
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