Nvidia will buy $3 billion of shares and AMD $1 billion in Meta's capital raise, the two companies announced on 27 October. Meta plans to raise $95 billion in total for AI infrastructure, with $35 billion from an initial offering and $60 billion from a programme of gradual share sales on the market. Nvidia said Meta will expand its use of Vera Rubin systems and Vera processors. AMD said its Helios racks are already running at Meta and that its EPYC processors support the Muse agent.

What it means: The two largest accelerator suppliers helping to fund one of their biggest customers is another example of the so-called circular financing model in AI. The supplier puts money into the customer, and the customer uses money to buy the supplier's products. This secures demand for the chipmakers and cheaper access to equipment for Meta, but it makes it harder to judge real, independent demand for computing power. The $95 billion figure, larger than the annual budget of many countries, also shows the scale of competition among the big platforms. For Europe and Greece the link is indirect but real: the more the largest companies lock up available output of accelerators and memory, the harder and more expensive access becomes for smaller players, from European data centres to start-ups. For Greek businesses relying on third-party AI services, this concentration is a reason to avoid depending on a single provider and to keep the ability to switch to alternative models.

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