OpenAI is building the biggest house of cards in history. Its “circular financing” aggravates the threat of the AI bubble
Yesterday OpenAI and Broadcom announced a collaboration agreement that will see both companies design and deploy 10 GW of custom AI chips over the course of four years. It’s a new episode of that unusual strategy that OpenAI has carried out and which is summarized in an increasingly disturbing concept: that of circular financing. Multimillion-dollar … Read more