(Bloomberg) -- The cost of protecting Nvidia Corp.'s debt against default surged by the most on record on Monday after reports that the chipmaker is in conversations on more than $750 billion of artificial intelligence infrastructure deals, stoking fears that the company is taking on even more obligations.
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The price of protecting Nvidia's debt against default for five years rose as much as about 0.14 percentage point to as high as around 0.82 percentage point a year on Monday, according to ICE Data Services. That's the biggest intraday rise since the swaps started to actively trade in November.
A representative for Nvidia didn't immediately respond to a request for comment.
Nvidia is in discussions to provide a guarantee of as much as $250 billion to help OpenAI lease computing from a US data center project, in what would be among the chipmaker's biggest financing deals with a customer. The company also said an initiative with the parent of South Korean chipmaker SK Hynix Inc. unveiled late Friday is worth more than $500 billion.
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