The AI Boom’s Hidden Feedback Loop: When Financing Becomes the Product
The AI infrastructure race is accelerating, but what if part of it is running in circles? Ned Gandevani reveals how “circular financing”, where chipmakers and hyperscalers finance their customers’ hardware purchases, may be inflating both sales and valuations. NVIDIA, AMD, and others are effectively funding their own demand, creating what looks like exponential growth. But…
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