Nvidia May Face Chip Competition in 2028 as HBM Risks Extend Beyond 2028

AI infrastructure expansion faces tighter funding and component constraints, while chip competition and memory capacity growth after 2028 could reshape the buildout's economics. The U.S. 10-year Treasury yield has topped 5%, while yields on some unsecured debt from emerging cloud providers are nearing 15%. Non-hyperscale cloud companies account for nearly half of AI construction demand but often lack the balance sheets to support it. Projects without long-term purchase commitments, or offtake agreements, are finding financing harder to secure. The financing pressure adds to broader concerns about AI infrastructure costs .

Source: TokenPost