Follow the money. Or investors in this case, as there’s no real money involved but lots of speculation of payoffs in the future.

There's money on the Nvidia side, only because they make the hardware everyone is buying. They have an actual product. They're then investing that money into propping up the companies that will fail, to then get more incoming revenue as those companies again increase their debt. That investment isn't expected to actually increase in value in the end, at least not in the traditional sense. It's intended as a short term instrument to make the bubble as large as possible now for profitability.

They're not taking out massive loans to buy hardware and build datacenters with no revenue falling into debt so deep it reaches the center of the Earth. They're not the ones that will be holding the bag at the end when it all comes crashing down. Their revenue will tank alongside the collapse of course, but they're not in the negatives. They're net positive about $350 Billion. The only other companies with them are AMD and the RAM manufacturers, again all hardware manufacturers with real products that can't be easily replicated or replaced quickly and will still be necessary after the collapse even when production slows again.