Nvidia issues bonds; Samsung Electronics explores Boston Dynamics stake
Nvidia returned to the investment-grade corporate bond market for the first time in four years, filing with the US SEC to issue between $20 billion and $25 billion in bonds across seven tranches ranging from two-year to thirty-year maturities. With cash holdings exceeding $50.3 billion as of April 26, the issuance was interpreted not as a sign of distress but as a preemptive move to lock in long-term funding amid surging AI infrastructure investment needs.
Hosts framed the bond sale as a healthy diversification of funding sources, noting that even the world's largest cash-rich company still needs additional capital — evidence, they argued, that the AI investment cycle remains in an expansion phase rather than nearing exhaustion. Nvidia shares still closed up more than 3% and the Philadelphia Semiconductor Index gained over 5%.
Around 11:30 a.m. local time, an exclusive report broke that Samsung Electronics is exploring acquiring the Boston Dynamics stake held by Hyundai Motor Group. The timing is notable because this Saturday marks the deadline for SoftBank to exercise its call option on its 10% Boston Dynamics stake; if SoftBank declines, Samsung Electronics was floated as a potential buyer. Samsung's CFO had earlier this year said the company was reviewing M&A and equity investment opportunities in future growth areas including robotics.
Hosts noted that Samsung Electronics' cash holdings are projected to surpass 150 trillion won by year-end, making capital allocation the key driver of corporate valuation. Building new fabs risks repeating past chicken-game dynamics, whereas acquiring stakes in new businesses like robotics could both improve return on equity and open new growth avenues.
It was also noted that Hyundai Chairman Chung Euisun personally holds a 23% stake in Boston Dynamics, and that proceeds from a future IPO sale of that stake could help fund inheritance and gift taxes tied to Hyundai Group's succession and governance restructuring. Given the long-standing rivalry between Samsung and Hyundai since Samsung's entry into the auto business, any tie-up was described as potentially evolving into a broader strategic alliance spanning semiconductors, batteries, and sensors within the robotics ecosystem.