Nvidia Could Become the ‘Federal Reserve Of AI,’ Gavin Baker Says: Will ‘Dark GPUs’ Become Its First Test?

Nvidia Could Become the ‘Federal Reserve Of AI,’ Gavin Baker Says: Will ‘Dark GPUs’ Become Its First Test? Daragh Thomas Mon, August 17, 2026 at 11:52 AM EDT 2 min read NVDA Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Nvidia (NASDAQ: NVDA ) is building what could become the "Federal Reserve of AI," Atreides Management CIO Gavin Baker said on Friday's All-In Podcast. The investor says CEO Jensen Huang is transforming Nvidia's chips into a financeable asset class, opening the door for Wall Street to finance a much larger AI buildout. But co-host David Sacks warned there is one way the strategy could end badly for everyone: "dark GPUs." Nvidia last week unveiled a plan with Wall Street firms to mobilize more than $500 billion for AI infrastructure. On Monday, Nvidia backed SB Energy's Ohio data-center buildout and said it will invest $1.5 billion in the developer. Baker Says Nvidia Is Becoming AI's 'Federal Reserve' Baker said financing has become a bottleneck for AI growth, with the market "constrained by the ability to finance this buildout." Nvidia is trying to remove that constraint by making GPUs easier for Wall Street to lend against. The chips generate rental income, can remain productive for years, and Nvidia may provide residual-value support of up to 25% on individual deals. That makes Nvidia a "matchmaker" between compute buyers and lenders, Baker said, potentially turning it into the "central bank of AI, the Fe…