NVIDIA (NVDA) is now a safer 'risk-free asset' than the U.S. government NVIDIA's 5-year Credit Default Swap (CDS) spread has dropped to 38 basis points, directly below the U.S. sovereign CDS at 40 basis points. The global financial market now unanimously agrees that the probability of NVIDIA defaulting or going bankrupt is even lower than that of the Federal Reserve and the U.S. federal government. For FY2026, their total debt is a mere $8.5 billion, while they’re sitting on $10.6 billion in cash, generating nearly $100 billion in free cash flow annually. Risk models show that even if NVIDIA’s profits were to crash by 90% due to industry competition, it would still remain one of the top 100 most profitable beasts on the planet.