AI Stocks Crash After Report of NVIDIA Financing $250 Billion OpenAI Buildout
On July 27, 2026, AI hardware stocks experienced a sharp selloff following a Wall Street Journal report that NVIDIA is in talks to guarantee up to $250 billion in financing for OpenAI's data-center buildout. NVIDIA shares fell 5% to $197, AMD dropped 8% to $479, and Dell slid 4% to $421, while Intel fell 4% on profit-taking. The report reignited 'circular financing' concerns, where NVIDIA would fund a customer that then buys its GPUs. Despite the selloff, the article notes that all affected stocks remain within massive year-to-date rallies, and NVIDIA's Q1 FY2027 data center revenue grew 92% YoY to $75.25 billion. Oracle and Alphabet saw modest gains on the day, while Microsoft remains at the center of the capex debate. The article frames the selloff as a 'rethink' rather than a structural break in the AI trade.
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